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CINEMA 4D renders all images using the RGB color system. With these three options, you can filter out the separate colors. This allows you to check, say, the red separation of a render without needing to launch a separate image editor.
If you enable this option, the image will be displayed in grayscale. This function is useful for checking aspects of the render such as contrast, which is generally much easier to judge in a grayscale image than in a color image.