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Setting the policy lets you specify system behavior on startup. Turning this setting off amounts to leaving it unset as Google Chrome must have specified start up behavior.
If you set the policy, users can't change it in Google Chrome. If not set, users can change it.
Setting this policy to RestoreOnStartupIsLastSession or RestoreOnStartupIsLastSessionAndURLs turns off some settings that rely on sessions or that perform actions on exit, such as clearing browsing data on exit or session-only cookies.
If this policy is set to RestoreOnStartupIsLastSessionAndURLs, browser will restore previous session and open a separate window to show URLs that are set from RestoreOnStartupURLs. Note that users can choose to keep those URLs open and they will also be restored in the future session.
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.