Create Public Group with/without "Grant Access with Hierarchies" checked/unchecked #inSalesforce

Create a Public Group (with Users) involving the Users above them (Seniors) :

Create a Public Group with "Grant Access with Hierarchies" checked. Add Users etc. and Save. When checked, any records shared with users in this group are also shared with users higher in the role hierarchy.

Create a Public Group (with Users) without involving Users above them(without Seniors):

Create a Public Group with "Grant Access with Hierarchies" unchecked. Add Users etc. and Save. When unchecked, Managers of group members will not have access to records shared with this group unless they have access through other means. 

Visual: https://www.youtube.com/watch?v=sUAUm0PQFX8

Note:

In Sharing Rule : "Grant Access Using Hierarchies" option in public groups overrides the "Grant Access Using Hierarchies" in OWD:

Example: 

OWD on Accounts(suppose) is set to Private and "Grant Access Using Hierarchies" is auto-enabled > UserA has Role "CEO" and UserB has Role "VP" (CEO is above VP in role hierarchy) > Public group called "Sample" has only UserB as member > Account "Acount1" is shared with public group "Sample" > Here UserA and UserB have Read access on account object and the owner of account "Account1" is by another user not associated with UserA or UserB > If "Sample" PG has "Grant Access Using Hierarchies" enabled then UserA will be able to see account "Acount1" and if public group PG1 has "Grant Access Using Hierarchies" disabled then UserA will not be able to see account "Acount1".