It doesn’t work. 🙁
Well that’s not really correct. It was broken, but they fixed it as of CiviCRM 5.56 as per the Cron issue with Joomla 4 issue.
We ran into this recently — cron was all set correctly, but it just wouldn’t work. The client had CiviCRM 5.54. We just upgraded that, and now all is well.