How to use the Self-Service Effective Date to Use field on the Self-Service Configuration task?

Summary: I set the field to the Open Enrollment Start Date of 10/25/2023. I was expecting the Open Enrollment Life Event to not be available to employees until that date. Instead, the Open event was available immediately. Please explain the functionality of this field.

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable): 23C

Code Snippet (add any code snippets that support your topic, if applicable):