Webmaster Trends Analyst At Google, John Mueller recaps us that setting geographic target in Google Search Console will not stop getting traffic to the website from the audiences outside your targeted regions. Setting the geographic location helps Google to identify relevancy to your audiences from specific regions but will not prevent it from being shown to other locations.
He adds that – if you want your website / page being restricted to be seen from specific regions, then it has to be done from your end & there is no option to be done via search, for website pages.
So basically, GeoTargeting doesn’t restrict access from specific countries / regions, it just means we can promote it as local for people searching via local search results.
Thread On Twitter.