By default when providing exclude patterns for artifacts, they will not get deployed into Artifactory but they will get included in the final BuildInfo JSON.
By marking the "Filter excluded artifacts from build Info" the excluded artifacts will appear in a different section inside the BuildInfo and by this providing a clear understanding of the entire Build.
This is also crucial for the promotion procedure, since it scans your BuildInfo JSON and trying to promote all the artifacts there, it will fail when you excluded artifacts unless you mark this option.