If you import a module from your own workspace you will see multiple pinning target options:
Version: If you select a "Version" pinning target you can subscribe your imported module to bug fix updates, minor updates, or disable automatic module updates. You will only see this option if the module has been deployed at least once.
Commit: Allows you to pin the module to any commit of the module code.
Development: Allows you to use module code that you have in your local client and has not been landed yet. Used for development and testing.