Can this component help me control pressure in my water pipe? (agricultural usage only)

Hello folks. I'm replacing a domestic pump I've been using on my off grid agricultural project. I bought a decent single phase water pump. I asked the shop how to manage the pressure of the pump as it didn't have a pressure sensor on it. The expert in the shop gave me this and said I can program this to cut in and out depending on the power requirements of the pump.
There is a little bit of a language barrier, but he seemed confident. May i double check with any of your experienced hands, is this correct?

I understand this device appears to be a over/under protection device for my pump, and stops dry run.. But how exactly could this manage pressure of the water? Is it standard to set cut offs at a certain power consumption rate (amps) which correlates to a certain head pressure the pump is currently trying to work against?

Previously my pressure was managed by a screw in mechanical regulator device which allowed power in or out to pump depending on pressure.