The cppreference description seems questionable to me:

> Implicitly creates a complete object of type T (whose address is p) and objects nested within it. The value of each created object obj of TriviallyCopyable type U is determined in the same manner as for a call to std::bit_cast<U>(E) except that the storage is not actually accessed, where E is the lvalue of type U denoting obj. Otherwise, the values of such created objects are unspecified.

So T is the complete new object. It contains subobjects, and one of those subobjects has type U. U is initialized as if by bit_cast, and I presume they meant to say that bit_cast casted from the bits already present at the address in question. Since “obj” is mentioned without any definition of any sort, I’ll assume it means something at the correct address.

But what’s E? The page says “E is the lvalue of type U denoting obj,” but obj probably has type char or a similar type, and if it already had type U, there would be no need for bit_cast.