Update 7/15/2019: As a reminder to customers on Windows 10, version 1809 using Windows Update for Business with a Branch Readiness Level set to Semi-Annual Channel and a default 0-day deferral, your ...
Updated Jul 15, 2019
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wroot exactly; deferral setting is as of release date and indeed it is for installing a new Windows version (hence the name feature update not to be confused with so called quality updates). So if MS releases 1903 in March 2019 and a customer defers the next feature upgrade for 365 days then he'll get version 2003 in / as of March 2020 but I'd be curious to learn about the 18 & 30 months support explanation from John Wilcox
Something else I experienced on one of my own systems is the following: (John Wilcox I'd appreciate you shedding some light on this as well.)
I had a 1703 Pro system with deferral set to SAC + 365 days, then it got a feature upgrade to 1709 back in February 2019. I was expecting to get 1803 however since 1803 in february 2019 was "ready for business / SAC" ever since july 10th 2018 ???