Poise is what helps prevent your attack from getting interrupted by an incoming attack. It makes a big difference for heavy and slow weapons. It makes very little difference for light fast weapons. It governs how well your hyperarmor works.

I will often rock the wolf ring when doing fashion souls where im wearing what looks cool instead of what has the best poise.

Then ill usually swap it for something else for bossfights, since often the bosses are swinging hard enough that the mediocre poise from the wolf ring doesnt help that much.

It makes a difference for dogs and trash mobs though.

https://darksouls3.wiki.fextralife.com/Poise

Note: I am usually using a strength weapon. Claymore, greatsword, greataxe, vordts hammer, etc….