|Release time frame|
Master releases are meant to be used to manage a suite of products that are released on the same date. They contain phases and milestones, along with sub-releases (which are releases at the product level).
For releases which do not have the same release date, we would not recommend using a master release. Master releases provide the most value for organizations which a component architecture and all components are released as part of a single overall product. This makes it easier to manage changing release dates automatically at the master level (without needing to do so for each sub-releases with the same release date).