Exaggerated movement example above.
The head of the player has not only a VR camera, but a monitor camera as well. The monitor camera has motion smoothing, and is considered an override because when it is off, the VR camera is used for the monitor display. This monitor camera can easily be disabled to turn off the override and thus disable motion smoothing on the monitor display.
This is helpful to smooth out jitteriness when displaying the monitor for spectators, making a video recording, or using the camera as a texture.