The very first time I switched to pbr rendering with vray, this confused me aswell.
In reflection slot you control which parts of the surface reflect light in a specular fashion, as opposed to the standard diffuse model. In physics terms it only maps what parts bounce lightrays with directionality and which bounce light in complete random direction.
The glossiness map determines how directional the light gets bounced. When the map is 255 white (1.0) glosiness, then light rays bounce of the surface with the same angle as the hit the surface. With lower glossiness, this angle gets mor random and starts to diffuse the reflective rays, hence the name
In physics 0 glossiness value = diffuse surface the same as 0 reflectance, but in rendering we approximate 0 glosiness with a fast mathematical method and due to Corona's ggx model glossiness curve, 0 glosiness doesn't actually reach that low, but this is irrelevant for you.
TL;DR example
Reflection slot = which parts of the model show metal parts and should reflect
Glosiness = how much each metal part is corroded and diffuses light in different amounts
PS: you can get confused with the levels in the materials, the reflectance value is a multiplier. If you have a map with a max of 180 reflectancd, then that part will never be Mord reflective than 180 ~ 70% and can only get lowered by the multiplier.
God dmamit, not first D: