When true, null references are actively validated in C++ generated by IL2CPP. When false, they are not.
This setting is only supported for some closed platforms. On those platforms it's a configurable option in the platform build profile, and more information is available in the relevant platform-specific documentation.
Important:
[Il2CppSetOption] attribute instead, which is supported on all platfoms and allows you to apply the equivalent behavior more restrictively to specific methods, classes, or assemblies. For more information, refer to IL2CPP runtime code checks in the Unity manual.