I guess you'd say "sort of" It sort of limits what you chose as the high gear.
From the manual:
The transmission shift lever has PARK, REVERSE, NEUTRAL,
DRIVE, and Electronic Range Select (ERS) shift
positions. Manual downshifts can be made using the ERS
shift control (refer to “Electronic Range Select (ERS)
Operation” in this section for further information). Moving
the shift lever into the ERS (-/+) position (beside the
DRIVE position) displays the current gear in the instrument
cluster, and prevents automatic upshifts beyond
this gear. In ERS mode, toggling the shift lever forward (-)
or rearward (+) will change the highest available gear.
Electronic Range Select (ERS) Operation
The Electronic Range Select (ERS) shift control allows the
driver to limit the highest available gear. For example, if
you shift the transmission into 4 (fourth gear), the
transmission will not shift above fourth gear, but will
shift through the lower gears normally.
You can switch between DRIVE and ERS mode at any
vehicle speed. When the shift lever is in the DRIVE
position, the transmission will operate automatically,
shifting between all available gears. Moving the shift
lever to the ERS position (beside DRIVE) will activate
ERS mode, display the current gear in the instrument
cluster, and maintain that gear as the top available gear.
Once in ERS mode, moving the shift lever forward (-) or
rearward (+) will change the top available gear.
To exit ERS mode, simply return the shift lever to the
DRIVE position.