The right sidebar gives you access to properties of the selected view component or logic node.
You can read more in the following guides:
In other views, the right sidebar gives you access to different properties.
For example, when editing schema via the variable editor you can configure properties of the selected field.
The bottom half of the right sidebar contains the layout tree is located at the bottom of the right sidebar. It shows you the exact structure of your view components on the current page.
You can use it to:
Select view components
Move view components around
Open and close containers to show or hide their children
Add new view components by dragging-and-dropping them from the component library to the desired position in the layout tree
Open composite components in isolation mode
In view component isolation mode, the layout tree shows the structure of the composite component being edited.