How does Renovate handle Maven (Java) dependency updates?

<!-- pom.xml — Renovate updates these elements -->
<properties>
  <spring.boot.version>3.2.2</spring.boot.version>
</properties>
<dependencies>
  <dependency>
    <groupId>org.springframework.boot</groupId>
    <artifactId>spring-boot-starter-web</artifactId>
    <version>${spring.boot.version}</version>
  </dependency>
  <dependency>
    <groupId>com.fasterxml.jackson.core</groupId>
    <artifactId>jackson-databind</artifactId>
    <version>2.16.1</version>
  </dependency>
</dependencies>

{
  "packageRules": [
    {
      "matchManagers": ["maven"],
      "matchPackagePrefixes": ["org.springframework"],
      "groupName": "Spring Framework",
      "minimumReleaseAge": "7 days"
    },
    {
      "matchManagers": ["maven"],
      "matchUpdateTypes": ["major"],
      "enabled": false
    }
  ],
  "hostRules": [
    {
      "matchHost": "nexus.mycompany.com",
      "hostType": "maven",
      "username": "{{ secrets.NEXUS_USER }}",
      "password": "{{ secrets.NEXUS_PASS }}"
    }
  ]
}