Yes, there is. Implementation defined means that a conforming implementation _must_ document its behavior.
That means that programmers don’t have to use trial and error to figure out how the compiler behaves and don’t have to _hope_ they found all the corner cases.
Oh, I see, I wonder if greenhouse_gas is suggesting a feature similar to sizeof() that can be used to portably adapt your program's design to the target's overflow capability.
Even today, an implementation may define unsigned overflow.