An additional note:
The settings within project properties handle one level of the "stop on error" logic. There's a hierarchy that applies in processing "on error" events. The project level is the overall controller. Then the test item level. Setting the settings on the "current project properties" does not apply those settings to the test items. The "Stop on error" on the test items was there in TC 12.x as well, just that, by default, it was hidden unless you explicityl selected to view the column.
A change in TC 14 (which I find extremely welcome) is exposing that column by default so that the user can actually see what settings are there and make those fine tuned items.