The Metalness Render Element shows areas, where a V-Ray Material, with Metalness is applied. The Metalness values are baked into an image, where black corresponds to 0 and white - to 1. The image created can be used as a metalness mask when creating PBR shaders in post-processing.
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Note that values between 0 and 1 give an unrealistic metalness effect. They can be used creatively and for smooth transitions from a metal to a non-metal material on the same geometry. For more information on metalness and it's role when creating PRB shaders, visit Understanding Metalness.
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UI Path: ||Render Setup window|| > Render Elements tab...