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You can access several sub-screens:
Lap Charts - customizable charts that displaying the recorded telemetry for the lap.
Lap Track - a visualization of the recorded lap telemetry on a map of the track.
Lap Table - a table displaying the numerical recorded lap telemetry.
Lap Stats - customizable numerical statistics of telemetry parameters.
The position slider is available in the Lap Charts, Lap Track, and Lap Table sub-screens. It allows you to focus in on a particular point in the lap.
It's position can be changed with a common slider at the bottom of the screens. The position is synchronized across all the screens.