In the Product Preview function, you get a view of the product's source data and a view of the current state of localization, export and automation
When hovering over a given part of the text (phrase), the phrase will be highlighted, which you can edit directly by clicking on it.
After clicking on the detail of the phrase, you can set the type of editing in the modal window, which will affect the places where changes to the text of the phrase will take effect.