Does logging out of TaroWorks Mobile application reset the security options?

Yes.

Application locking settings like the 4-Digit Pin and Fingerprint settings are treated the same as application data, such that when new TaroWorks Mobile Users log into the application, data from previous users is removed. This means the TaroWorks application locking security settings are also removed.

However, removing the application locking settings does not affect Android settings and any previously stored fingerprints would continue separately.