Selecting [Yes] allows adjustments that are normally made by holding a button and rotating a command dial to be made by rotating the command dial after the button is released. This ends when the button is pressed again, the shutter-release button is pressed halfway, or the standby timer expires.
[Release button to use dial] applies to controls to which the following roles have been assigned using Custom Settings f2 [Custom controls (shooting)] or g2 [Custom controls]: [Choose image area], [Image quality/size], [White balance], [Set Picture Control], [Active D-Lighting], [Metering], [Flash mode/compensation], [Release mode], [Release mode (save frame)], [Focus mode/AF-area mode], [Auto bracketing], [Multiple exposure], [HDR (high dynamic range)], [Exposure delay mode], [Focus peaking], [Choose non-CPU lens number], and [Microphone sensitivity].