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Setting the policy to Enabled or leaving it unset means security warnings appear when potentially dangerous command-line flags are used to launch Chrome.
Setting the policy to Disabled prevents security warnings from appearing when Chrome is launched with potentially dangerous command-line flags.
On Microsoft® Windows®, this policy is only available on instances that are joined to a Microsoft® Active Directory® domain, joined to Microsoft® Azure® Active Directory® or enrolled in Chrome Browser Cloud Management.
On macOS, this policy is only available on instances that are managed via MDM, joined to a domain via MCX or enrolled in Chrome Browser Cloud Management.