This is the staple. During massive 1000v1000 battles, getting headshot by a random crossbowman is frustrating. Enabling this ensures you can lead the charge without worrying about RNG deaths. It applies to your horse, too, preventing the "horse rear-up" animation that leaves you vulnerable.
Websites like Fearless Revolution host frequently updated tables for Bannerlord. Look for ones that include "AOB" (Auto-On-Base) scripts, as these are more likely to work even after the game receives a minor patch.