It's a "match" elevation wheel. You can count up the clicks for more precise zeros at different ranges. You will have to know if the rear sight wheel is graduated in 1 min, .5 min, or .25 min (min=MOA) clicks. Zero at 100 with 5-10 clicks above bottoming out. This will allow you some room to lower bullet impact if the need should arise (ammo, range, temp., etc.). Record setting. Repeat at 200 yds and so on, again recording your zeros. You can easily adjust from one range to another by counting the clicks up or down. You can also easily adjust bullet impact. For instance, I have .25 MOA rear sights. The bullets are impacting 1.5 inches low at 200 yds. 3 clicks up will raise POI 1.5 inches.
The quality of said "match" elevation wheel depends on the mfr. If it has good, repeatable clicks without mushiness you will be OK.
If this sounds crazy, do the IBZO at 50yds using the rear sight to adjust elevation.
Every one of my rear sights have this style of elevation wheel as does any AR15 Service Rifle.