This is a simple circuit board that provides the resistor and capacitors to debounce a mechanical rotary encoder. The pcb has mounting holes so you can use standoffs to attach it to a panel or project box. A resistor also pulls up any push switch that the encoder may have. This is a voltage agnostic device. It will work at any voltage your MCU or Arduino runs at.
The surface mount components are assembled. You install the header and mechanical rotary encoder.