It creates a pointer to an element that looks like a pointer to a data element of a class, but the class instance is not yet defined, it's just an offset. (Note that when combined with multiple inheritance or virtual inheritance, it becomes quite complicated than a simple offset, but the compiler develops the details.)
Notice the dereference-pointer-operator operator ->* used on the last line, where the class instance is combined with the member pointer to get a specific data item for a specific instance.
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