The system status menu is a purely informational page on the monitor's menu structure that gives you a quick overview of current monitor settings including active input, input format, whether oversacn is on or off, whether pixel mapping is on or off, volume setting, contrast setting, brightness setting, chroma setting, hue setting, monitor type/firmware version, and monitor serial number.  Again, this page is purely informational and there are easy and straightforward ways to adjust settings such as volume, contrast, etc. that do not require you to access a menu (i.e. these functions have dedicated knobs on the monitor's keypad).

The System Status Menu should not be confused with the System Menu, which does provide you with many configurable items.