Consider Pixel shift already takes multiple shots with the sensor shifting between shots and combines them into a single shot. This would be an extension of that. The only way to frame your shot would be with an extended full frame optical view finder - Seems impossible to replicate in live view or EVF and would be a reason they are touting the full frame image in the viewfinder.
It would offer both the standard crop field of view and the full frame field of view when used in “reverse crop” mode. The extended image captured is added/stitched to the original image.
Think Brenizer Method built into the camera, done in one shot (technically one shutter press, but multiple shots).
---------- Post added 07-31-20 at 09:09 AM ----------
Here is a better video from PentaxForums explaining the composition adjust process, but consider it being done automatically with a single shutter and with greater adjustment variance,