@pmmmwh/react-refresh-webpack-plugin enables Fast Refresh (also known as Hot Reloading) for React components when using Webpack. This significantly improves the development experience by updating components instantly without full page reloads, preserving React state. It's a fork of the original react-refresh-webpack-plugin, maintained with ongoing support and fixes. This plugin works seamlessly with Webpack's hot module replacement (HMR) to deliver rapid, iterative frontend development within a React project.