For the ADV7341 there is a document that specifically describes the power sequencing for VDD and VDDIO. The power sequencing document indicates that you will always need this sequencing. The datasheet indicates that you only need the power sequencing if ALSB is tied low. The power sequencing control adds circuitry and if it is not required if you tie ALSB high, then that will be the way to go.
The power sequencing document mentions SPI, but I don’t see that the ADV7341 supports SPI so not sure what that is about.