What effect does clicking the mouse at the current location of the red arrow produce in Pro Tools?

When you click the mouse at the current location of the red arrow in Pro Tools, you are positioning the Edit cursor at that clicked location. This action enables you to specifically select a point in the timeline from which you may want to edit, record, or manipulate audio and MIDI data. The Edit cursor serves as an indicator of where your edits will take place or where playback will start from, allowing for precise control over your workflow.

This functionality is integral to the editing process in Pro Tools, as it facilitates navigation within the session and the ability to make targeted adjustments without affecting other areas of the project. Being able to place the Edit cursor accurately is key to efficient music production and audio editing.