Just for anyone else who happens to stumble across this in 2023 and is like, "What does this do?" The answer is NOTHING and DOES NOT WORK. Quote from a ticket earlier that address this very question.
"Thank you for reaching out to Jamf Technical Support!
To summarize, the feature “Computer administrators may refresh or disable management” is not working.
Unfortunately, after some investigation, Jamf created a Ticket with Apple, but this appears this feature is not going to work. We tested on our end, and it is also not working.
At this point, we will be marking this case as inactive. If there are any additional questions or concerns, let us know, and reference this case number to allow for us to continue working from where we left off."