Hi Edmond
seems this is copy from sabre spf-27392 p.19 schematic

when processor powered off, voltage between G2-S2 is equal so
p-fet nonconductive and PWRON should be = 0, pulled down by R571.
On your circuit this is C398. When G2 goes to ground p-fet conducts
and PMIC_ON_REQ (high) goes to PWRON, turning on PMIC.
When PWRON=0 input voltage will not turn on PMIC with
configuration PWRON_CFG=0.
Best regards
igor
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