Google hints that they use the schema for knowledge panels, but that seems questionable since most every local business has a knowledge panel already from GMB (Google Maps)…
https://developers.google.com/search/docs/appearance/structured-data/local-business
When users search for businesses on Google Search or Maps, Search results may display a prominent Google knowledge panel with details about a business that matched the query. When users search for a type of business (for example, “best NYC restaurants”), they may see a carousel of businesses related to the query. With Local Business structured data, you can tell Google about business hours, different departments within a business, reviews (if your site captures reviews about other businesses), and more. If you want to help users to make a reservation or place an order directly in Search results, you can use the Maps Booking API to enable bookings, payments, and other actions.