The link accessibility trait is applied to UI elements that open some web content. It usually appears in-line in the content and represented by underlined text, but not always. VoiceOver will say "link" after the accessibility label.
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A quick way for turning on, or off, VoiceOver is by using Siri. Say something like: "Hey, Siri! Turn on VoiceOver", and you'll find yourself using VoiceOver in no time. You can also do the same with other technologies like Voice Control.

The .selected accessibility trait indicates when an element has been selected. You’ll notice that VoiceOver announces “selected” before the accessibility label. You can find that in the system for the selected tab in the tab bar, for example.

Toggles or UISwitches are often found separated from the label that precedes (and describes) them; with an unclear label; missing a value, trait, or hint; or even not being actionable at all.