Is account called "Local" reserved in Windows 11?

I've tried to add such user 'Local' (in latest Windows 11 Enterprise 23H2 jan 2024 update) and got the following result:

C:\>net user Local /addThe account already exists.More help is available by typing NET HELPMSG 2224.C:\>net user Local /delThe user name could not be found.More help is available by typing NET HELPMSG 2221.

Can you share, is this predefined reserved account? Where can I read information about that?

Thank You.