On-Cycle PE Recruiting Deal Experience?

With on-cycle PE recruiting happening so early into 1st year, do firms still ask candidates about deal experience? If not, what other topics fill the gaps in interviews?

I'm a target school student joining a BB in a few months, and I interned with a MM bank last summer where I didn't gain any M&A experience. If I partake in the process this fall, how much of a disadvantage will I be at?