Unfortunately, during my testing of the setting I found that it doesn't screen share the Zoom control bar so you can't use it to show meeting participants where the mute button or other settings are during a meeting.
Applications for Education
My first thought when seeing "show Zoom windows during screen share" option was that it might be useful to those who want to be able to include their students' video feeds in a screenshare. I can see potential for this to be useful when I want to have include a side-by-side view of a student's screen and my screen during Zoom meeting. For example, if a student asks for help on a coding problem and I want to explain the solution to the whole class I can have that student screen share right next to my screen share. Then I'm able to display my screen with the correct answer and my student's screen with the error and how to correct it.
My first thought when seeing "show Zoom windows during screen share" option was that it might be useful to those who want to be able to include their students' video feeds in a screenshare. I can see potential for this to be useful when I want to have include a side-by-side view of a student's screen and my screen during Zoom meeting. For example, if a student asks for help on a coding problem and I want to explain the solution to the whole class I can have that student screen share right next to my screen share. Then I'm able to display my screen with the correct answer and my student's screen with the error and how to correct it.