As I understand it, it will disable the N/G bond completely. Otherwise, the relay will disable the N/G bond when the AC input is active. I haven't actually done this yet, so can't speak authoritatively. My system is currently so over provisioned I don't even think I need a generator.
I would think it disables it completely. My multipluss has the N/G bond but I now have a panel so I think I will N/G bond at the panel.
Do you happen to have a picture or wire diagram of your system? Wondering why you’d run a ground conductor from your panel to the bus, if,you already run a 3 wire from the multi to your panel. Your multi has a ground connection to,the bus as well?