In the US I always see Hispanic/Latino as its own category.
On forms, I would tend to agree.I'm more speaking of in statistics. It appears depending on the narrative they're intertwined. There's also the variances in self reporting.
"A 2014 Pew Research Center survey found that one-third of US Latinos identify as "mestizo", "mulatto", or another multiracial identity.[21] Such identities often conflict with standard racial classifications in the United States: among Latino American adults surveyed by Pew Research who identified as multiracial, about 40% reported their race as "white" on standard race question as used on the US Census; 13% reported belonging to more than one race or "mixed race"; while about 20% chose "Latino" as their race." - Wikipedia