Month end handling during log archival in CPanel

I’ve got a website on shared hosting under CPanel 86.0.21. Under Metrics/"Raw access", there’s a checkbox to enable discarding previous month’s logs. How does that work, exactly?

The log processing runs every 24 hours, CPanel says that much. I’d assume it doesn’t happen exactly at midnight. Does it do the discarding on the first day of the next month? If so, what happens to the log records from the last day of the previous month – are those never archived?