Select Tracks and Set Default Region/Cell Parameters by Region/Cell/Folder

It isn’t clear what this command actually does. I selected a number of regions on separate tracks. I issued the command. The Region inspector now reads “Audio Defaults”. Nothing has changed on any of the tracks (now all selected) or any of the regions.

Logic Pro Region inspector — Apple Support

If no region is selected, the upper line of the Region inspector displays the text Default Settings. The region parameter settings displayed are applied to newly recorded regions as realtime playback settings.