This switch can be turned on to calculate multiple tool paths passes on the same geometry. The toolpath is top down. The roughing passes are located above the finishing passes. So if you have much material to mill, activate roughing passes. If you are closer to the final surface and you want to make thinner cuts activate the finishing passes.
"Number" is the amount of cuts and "spacing" is the distance between the cuts (in mm)
"Sort by passes" means that the machining is in layers.
"Sort by slices" means machining is in slices.
Sort by passes
Here you can see the machining sorted by passes. There are three roughing passes with 5 mm spacing and one finishing pass with 1 mm spacing.
Sort by slices
Here you can see the same example sorted by slices.