The closed-end housing keeps the cable from over-traveling during termination, and the free-hanging (in-line) mount lets it sit anywhere in a harness without a board anchor.
The wire gauge range of 22-26 AWG covers standard ribbon cable gauges; 22 AWG gives the best current-handling, while 26 AWG is easier to route in tight bundles. The closed-end feature acts as a cable stop, so the ribbon butts against the back wall of the housing and every conductor lands at the same depth in the IDC slot. That consistency matters for contact wipe and pull-force on the first mate.
No official second-source or direct cross-reference from the manufacturer; the 1-226733-4 is a different position count and row arrangement, not a functional equivalent.