Direct Reports Interface --> Update Own Info option

In Direct Reports Interface Transaction Configuration page, example, component is My Team or Guided Self-Service, there is an option called "Update Own Info"

Peoplebook says - "Select to indicate that the user can update their own records. When you select this check box, the manager's information is returned in the direct reports results list along with their direct reports or management hierarchy."

When we turned on this feature, built the direct reports, we do not see Manager's name being listed in the Direct Reports results.

Also, by default, PeopleSoft does not allow users to update their own information.

Can anyone explain the reason for the option (Update Own Info) for Direct Reports pages?