Correct aspect on Cover Art on a case by case basis possible?

I'm not sure what do you want to achieve exactly.

The option "Correct aspect ratio"
image
only displays the picture in the cover art window with the given height and width or scale it to the size of the cover art window. It does not change any dimensions as far as I understand it from:

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The most used Front Cover Art size from a real CD is square with 120 x 120 mm.
But there are many different Optical disc packaging out there.

Covers from a Digipak does NOT have to be square.