I will admit I had to look up what Pluton is, but I think Microsoft did a decent job of explaining it by themselves:

Microsoft Pluton is a secure crypto-processor built into the CPU for security at the core to ensure code integrity and the latest protection with updates delivered by Microsoft through Windows Update

Microsoft Pluton is designed to provide the functionality of the Trusted Platform Module (TPM) and deliver other security functionality beyond what is possible with the TPM 2.0 specification

In other words, Pluton is an enhanced TPM that’s baked directly into newer CPUs, for code integrity of Microsoft’s software. Here, integrity means the software was not tampered with, and will do exactly what Microsoft wanted it to do. That no guarantee that their software won’t spy on you or expose your data (see Microsoft Recall controversy), though.

Now, Microsoft can extend that integrity guarantee by blessing other software makers’s code. That is one of many avenues to use Pluton as DRM and/or anti-cheat, if game makers obtain the necessary blessing.

But this is still years away from fully rolling out, and it necessitates that everyone buys a CPU which has Pluton enabled. I personally wouldn’t want to pay money for something that historically would have given me full control. Game consoles have always been locked down, but I draw a line at PCs. Everyone will have to decide what they’re comfortable with, as we enter this brave new world.