You would install that Lee cutter into a powered case prep center, then hold the lock ring and stud in your hand. You would need the Lee dead length case length gauge inserted into the center of that cutting head, then you dead length through the flash hole onto the lock stud. I personally would epoxy a big handle or wooden knob onto the lock stud if I were going to use that set up, to give me extra purchase, at which point I could ALMOST see the utility in that Lee tool for a moderate to high volume reloader.
Personally, I absolutely hate the Lee case prep tools, from the dead length case gauges and to the chamfer and deburr tools, the case trimmers to the primer pocket cleaners... Way too small to hold for more than a handful of rounds, and often don't work well enough for any repeatability from case to case.
If you're using a drill, that link is the wrong set up for you. You don't need the 8-32 threaded cutter, you just need the standard lock stud and the ball handle cutter. Then you put the lock stud in your drill, as designed, and hold the cutting head. Again, you'll need the case holder and the dead length gauge specific for your cartridges.
