Set the default in which how you will assign member rates when tracking time to your projects.
There are three options for Project Rates:
Member Rates: This is the default Member Rates that you set for the members on Org settings > Members > Rates
Role Rates: Customized Role Rate Rates Group
Work Category Rates: Customized Work Category Rates Group
Learn more about Rate Groups
When editing the rates, you will see a confirmation modal to confirm if you want to push this setting to all Projects and Phases.