In singleplayer: disables ability to lift items for the Kinetic Module; hides characters' names (however, it still shows when you point your cursor on a character); hides the number of grenades left; disables body breaking; disables the ability to waste and regenerate energy for the Time Warp. These manipulations with energy make Time Warp usable only 9 times, however, when using the Time Warp, it will go in slow motion endlessly, unless the player deactivates it.
In multiplayer: only hides characters' names and amount of grenades, and also disables body breaking.
Source:
https://plazmaburst.miraheze.org/wiki/Version_1.17are you proud now ninja