This example shows how to use the blanking options. It uses the powerdrill.dgk model in the Examples folder. Blanking only works on models and not on toolpaths, boundaries, patterns, features, or any other entities.
All the blanking options are also available from the graphics context menu.
You can achieve the same result by selecting the surfaces you want to display and then clicking View tab > Visibility panel > Blanking > Blank Except.
This is a visual tool. All the surfaces are still in the model. If you create a toolpath, the toolpath takes into account the whole model, and not just the displayed model.