I think it makes "scents". Younger bucks, like younger people, make more mistakes, in part due to inexperience. The more you learn in life, the better you become at it. A deer's ability to survive is basically determined by how well it adapts. And the less mistakes it makes, the better it's rate of survival is.
Experienced hunters who have basic knowledge of deer behavior know this to be true. Watch how younger bucks act in situations vs. mature bucks. There is a world of difference. Which is why most dont make it through one hunting season.
I would say, specifically, yearling bucks are the least intelligent of all deer. They are forced to leave their mother and birthing area (home range), female yearlings do not. This is instinctively done to ensure like-genes are not mixed. Now this yearling buck has to adapt to a new area, basically on its own, learning and adapting on its own. Its not in a bachelor group, not in a doe group.
There are a number of examples to show how a younger buck and an older buck react differently with regard to their sense of smell. A personal experience is using a estrous call during the rut. Most mature bucks will circle downwind or try to use its eyes to see whats making the call before it moves right in. Younger bucks bee-line it right to the call. I've had spike bucks come within 10 feet of me after calling not paying attention and not cautious at all. If you let them go, its a learning experience they will literally grow from.

