A feature in the Splunk platform that lets you reserve groups of CPU and memory resources on Linux operating systems, and allocate those resources to searches and other processes. You can use workload management to ensure that high-priority searches have access to sufficient resources, while less important searches are appropriately restricted. Sometimes referred to by it's acronym, WLM.
For more information
In Splunk Cloud Platform Admin Manual:
In Splunk Enterprise Workload Management: