When you tick Keep until answered correctly, then the task will reopen, until it is answered correctly. If set you can also decide how long the task will be “inaccessible” for the player after incorrect answer. For that add to the box: Deactivate location if answered incorrectly for seconds.
If you do not set a timer, players are stuck at the location until they get it right. If you set a timer for example 120 seconds, then the task is locked for 2 minutes. Players can answer after 2 minutes of waiting (or going elsewhere and return).
There are some exceptions: In case of a quiz game timer is not shown and task will reappear until the task is answered correctly (when deactivation time has been set then task will be closed and reappear until limit ends
When task itself has a timer (time limit) and it runs out of time before players answer the task then it is considered incorrect.