This policy setting specifies to use the security descriptor for the log using the Security Descriptor Definition Language ...

This policy setting specifies to use the security descriptor for the log using the Security Descriptor Definition Language (SDDL) string. You cannot configure write permissions for this log.

If this policy setting is enabled, only those users matching the security descriptor can access the log.

If this policy setting is disabled or not configured, then only system software and administrators can read/clear this log.