Only way to see what's going on is testing to see what's going on. Hopefully, someone who knows more about it than me can take a look at the packets and see what they contain.
I found this talk [0] and some of the slides suggest that Windows is, at least in some circumstances, packaging web-browsing data into telemetry.
To lift examples from the slides, that includes page titles:
"CorrelationGuid": "7da62b73-082f-4eb2-a370-135d0113e1dd", "EventInfo.Level": 2, "PageTitle": "SiSyPHuS AFUNKT - Search", "TabId": 830425073, "client_id": -7497793556371901000, "pop_sample": 100, "utc_flags": 140737488355328
"IsSameDocumentNavigation": 0, "client_id": -7497793556371901000, "navigationUrl": "https://www.bsi.bund.de/DE/Service- Navi/Publikationen/Studien/SiSyPHuS_Win10/AFUNKT/SiSyPHuS_AFUNKT_node.html", "referUrl": "https://www.bing.com/", "HttpStatusCode": 200,
"DOMElementPath": "A|1||c-link%20c-link--download%20FTpdf;P|5[…]gsb%20lang-de%20fixed%20js-on;HTML|1||", "DOMAnchorHrefUrl": "https://www.bsi.bund.de/SharedDocs/Downloads/DE/BSI/Cyber-Sicherheit/SiSyPHus/AFUNKT.pdf?__blob=publicationFile&v=6",
I found this talk [0] and some of the slides suggest that Windows is, at least in some circumstances, packaging web-browsing data into telemetry.
To lift examples from the slides, that includes page titles:
The transitions between pages: And even which link you clicked in the page: [0] https://troopers.de/troopers23/talks/bsabut/