What does the Master button do?

The Master button applies a mastering effect chain to the selected audio. It changes volume, dynamics, and loudness while targeting a streaming-friendly loudness level measured in LUFS.

Mastering is usually the final step after editing, restoring, EQing, or mixing. It does not magically fix every stem separately. If you are working with stems, finish your stem edits first, export the mixed result, then import that mix again and master it as one full track.