Waypoint tracking

Can someone explain what the Waypoint Tracking option means/does when interacting with the map/compass?

I understand that placing a waypoint sets a marker (1) on both the map and on the HUD compass, but I don’t see any appearance changes or behavioral differences when I select the option to “track” my Marker.

BTW Im currently playing GZ on Xbox if that matters. I play co-op most of the time (with 1 other person).

Someone on Xbox can probably look into this more than I can. But, does the waypoint show up on the compass at all? Since it’s displayed in the game if you place one on the map.

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If I (or a coop partner) place a Waypoint marker on the map, it appears on both the map and the compass for both of us - without enabling the option to “track” - hence the reason for my initial question. I’m not sure what “track” means in this context.