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Note: this is currently based on Apple docs and not real world Apple API probing. This page will be updated in the future to reflect real world delay period results, but currently I'm just going off what Apple theoretically says is available.

The date is when you won't be able to delayed OTA to it anymore (in your local time).
As these are moving time windows, profiles for anything but the oldest OS version being served will become outdated eventually. You will have to uninstall the profile and install the updated version, so it's advised to install the profile on the day you want to update.