$C_c^{\infty}$ is indeed a subset of the Schwartz space $\mathcal{S}$, but that does not entail that $C_c^{\infty}$ with the canonical LF topology embeds into $\mathcal{S}$ with its topology defined by the semi-norms in your post.
Indeed, consider the inclusion map $C_c^{\infty} \rightarrow \mathcal{S}$.
To say the LF topology coincides with its induced (subspace) topology coming from $\mathcal{S}$ because this map exists, would only be true if this map were a homeomorphism onto its image, which would happen if and only if $\phi_n$ is a cauchy sequence with respect to the LF topology iff it is a cauchy sequence with respect to the topology give by seminorms on $\mathcal{S}$ (since both $C_c^{\infty}$ and $\mathcal{S}$ are complete TVS's).
One direction is true, namely if $\phi_n \rightarrow_{C_c^{\infty}} \phi$ then indeed $\phi_n \rightarrow_{\mathcal{S}} \phi$ , so this map is continuous , and $\phi_n$ being Cauchy in the LF topology implies it is also Cauchy with respect to the topology on $\mathcal{S}$.
This holds true because $\phi_n \rightarrow_{C_{c}^{\infty}} \phi$ iff there exists a compact set $K$ s.t. $\text{supp}(\phi_n), \text{supp}(\phi) \subset K$ and all derivatives converge uniformly to corresponding derivatives of $\phi$ on $K$.
The other direction however, is false, because for instance, the space of compactly supported smooth functions is in fact $\textbf{dense}$ (with respect to the topology on $\mathcal{S}$!) in $\mathcal{S}$, so any non compactly supported element of the Schwartz space gives a counter-example.
More precisely, take any sequence $\phi_n \in C_c^{\infty}$ converging to some non-compactly supported Schwartz function $f$ with respect to the topology on $\mathcal{S}$. Since $\mathcal{S}$ is a complete TVS, $\phi_n$ is Cauchy with respect to the topology on $\mathcal{S}$, and if the other direction were true, $\phi_n$ would also be Cauchy with respect to the LF topology, which would mean it converges in the LF topology to a necessarily compactly supported function, which would necessarily coincide with $f$. But $f$ is not compactly supported, which shows the other direction is false.