Its just a simple rule of thumb 😉 to allow you to assess if the shell is the right size on the head. thats all it is.
some discussion here about sizing and also explains the point I made about bigger shells being less effective
https://www.whycycle.co.uk/cycling-advice/safety-and-security/cycling-helmets/
Some helmets use a “sizing ring” which adjusts to fit your head. If this is the case, ensure that the helmet shell is fairly close fitting. Do not rely solely upon the snug fit created by the sizing ring. The sizing rings and soft foam pads offer absolutely NO protection. Only the polystyrene shell will absorb any energy and it is therefore very important that this shell be as close a fit to your skull as possible without it being uncomfortable.
I am not going to debate this any further but its obvious if you think about ti tat with 4 cm steps in sizing of circumference that 1.25 cm steps in diameter which is approximately a finger width. so if you can get a finger in the gap you could go down one size in shell size