No. The extensions that are already installed will still work in private windows. It’s only newly installed extensions that are disabled in private windows by default
† Stylish is a … special case [0]. But see also hypothes.is or any other extension that relies on a "user-created content store".
[0] https://robertheaton.com/2018/07/02/stylish-browser-extensio...
But anyway, the reason probably is that some extensions are abusive of personal data and you don't want them sniffing stuff in private browsing (with out your persmission).