Any insight on 'Treat as Background for Occlusion'?

Hello! There is an option for static meshes in the scene to have “Treat as Background for Occlusion” enabled. As for the additional information it says “Enables this object to be treated as part of the background for occlusion purposes. This can be used as an optimization to reduce the cost of rendering skyboxes and large ground planes that are part of the vista.”
I was wondering if anyone here would have more information about the usage of this. What does it actually do, how does it help the performance, how large the meshes need to be for it to be used and are there any drawbacks for having this enabled?

I didn’t find a lot of information about this so if anyone could explain it or share links to useful resources related to it, I’d greatly appreciate it!

I was also looking this up. I’ve been using it on my background skyboxes; I’m not sure how much it does, but if I get deep into profiling with unreal insights, I’ll let you know.