…and if it’s “OverSample”, what exactly does that do and why? Thanks!
Yes, it’s oversample…it means that it interpolates the output up to 2x whatever the project sample rate is, does its filtering, then decimates the output back to the original samplerate.
just for more precision and higher resolution…and to help heat your studio, since it consumes a bit over 2x the CPU, too. 
Scott