What do pivot or pivot point mean in UE 4-27 version?

Hi Guys! I’m new to Unreal Engine and still trying to figure out some of the new concepts. So my question is, what does pivot or pivot point exactly mean in Unreal Engine. So, I’m building walls in UE4, and in this tutorial it shows how to change the direction/move the pivot to align with walls. Even though I’m able to move the pivot, but I cannot visually see it. Please, explain me the pivot concept. Thanks!

The pivot point is where the corner of the editor widget is in the object. So for the cube:

we can see it’s in the center. But, if you bother to rummage around, and find the cube in Game/StartConent, the pivot point is at the base:

image

You can fiddle around and move pivot points in the editor, but they aren’t permanently changed. In order to do that, you need to use an external package, or a plugin like: