The term “Rated” is for those who have been trained in the aviation profession by the military. Yes, Guard units (probably Reserve units as well) do have “Rated Boards” specifically for those who wear military wings as they interview their unit of choice and that unit is hosting a rated board. They are not mixed in with the initial UPT hiring boards, granted there are exceptions for rotary folks who need to attend a fixed wing course such as UPT or the fixed wing qual course (basically half of UPT if it still exists?). If hired, the rated folks will be set up for training for a units specific aircraft, unless previously qualified and current.
*This is a great way for units to accelerate manpower, talent, Instructors, Evaluators (unit conversions), etc. If the person is a right fit, it’s almost a free pilot without delay comparatively speaking.