When using Universal Render Pipeline (UniversalRP) with the 2D Renderer selected, the Light 2D component introduces a way to apply 2D optimized lighting to Sprites.
You can choose from several different light types with the Light 2D component. The light types currently available in the package are:
The package includes the 2D Renderer Data Asset which contains the Blend Styles parameters, and allows you to create up to four custom Light Operations for your Project.
Note: If you have the experimental 2D Renderer enabled (menu: Graphics Settings > add the 2D Renderer Asset under Scriptable Render Pipeline Settings), some of the options related to 3D rendering in the UniversalRP Asset don't have any impact on your final app or game.