No - all the AOR means is that you completed the forms correctly and you have submitted enough documentation for them to start processing.
If you're applying under 2 streams, it wouldn't make sense to withdraw until you at least get your medical request, or if you're okay completing the medicals, then until your passport is request. Your passport request will be the last point when you would be required to withdraw the other application. You can (but not likely) get rejected after completing medicals but before the passport request, though that rejection would likely be based on inadmissibility which would likely be a rejection under both applications.
I'd suggest letting them process in parallel until you get your first medical request.