It shows how developed the wrist bones are compared to average. It's a more accurate age to use for the growth chart percentiles and expected final height.
No, it won't tell you when growth will restart. Only effective treatment with weight gain would restart the growth process.
My son's bone age is 2 years behind his birth age. Before his dx, he'd stopped growing. But because there is a difference between bone and birth ages, he is delayed, not skipped. He still has 2 years' growth to go. While controlling his IBD, he is growing again, but is staying 2 years delayed, no catch up growth yet, anyway. He will likely continue growing past the age an average person finishes.
However, if there is a growth concern and the bone age matches the birth age, then an endocrinologist would likely treat with growth hormones.