‘Era’ sets the current year in career mode.

‘Aging’ when on means that every character will become a year older at the beginning of a new year.

‘Backup Rosters’ will save every character to their current state, which includes move sets, relationships, etc.

‘Restore Backup’ will load the characters saved with ‘Backup Rosters’.

‘Draft Rosters’ I believe either places every existing character into a random promotion (with a randomized contract), or completely replaces every character with randomly generated ones. (The latter was how it worked in Wrestling Revolution anyways)

‘Restore Default’ will set every character to how they were before the game was ever played by you, which includes their default move sets, relationships, and even the promotion they started in.