What does the iOS Build project as a Framework option do? [4-27]

In the Project Settings > Platforms > iOS > Build section, there is an experimental feature labeled "Build project as a framework (Experimental). So far, when enabling this option, I haven’t been able to determine what effect it has on the uproject or XCode project.

What I hope would happen is the uproject gets packaged up as a framework that can be imported into another XCode project.

Does anyone know what actually happens when enabling this option, or how to use it in a build?