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What will happen if,
Reset Network Connection
What all will be reset/erased?
Assuming you mean "Reset Network Settings":
"When you reset network settings, your list of previously used networks and VPN settings not installed by a configuration profile are removed. Wi-Fi is turned off and then back on, disconnecting you from any network you’re on. The Wi-Fi and “Ask to Join Networks” settings remain turned on.
To remove VPN settings installed by a configuration profile, go to Settings > General > Profile, then select the profile and tap Remove. This also removes other settings or accounts provided by the profile."
From page 168 of the User Guide.
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