This policy controls whether the print spooler will accept client connections. When the policy is unconfigured or enabled, ...

This policy controls whether the print spooler will accept client connections.

When the policy is unconfigured or enabled, the spooler will always accept client connections.

When the policy is disabled, the spooler will not accept client connections nor allow users to share printers.  All printers currently shared will continue to be shared.

The spooler must be restarted for changes to this policy to take effect.