Security Vault TimeOut?

I was not sure how to search for this so I am asking a new question.

If you choose the “NEVER” option for the security vault timeout. I remember it saying that it was going to put the password file, locally. Is that correct?

If so, by changing the setting to anything other then “NEVER” does that remove the local file and resume actual cloud based requests for password?

If not, then where do I find this file so that I can delete it?

Lastly, What settings do I need to choose so that I can have it lock in like 10 hours but not lock in the event that I closed the browser? I would still like to open and close the browser without having to log in every time, but keep the 10 hour timer going. If that makes sense.