When is the mysql performance schema event "wait/synch/cond/sql/MYSQL_BIN_LOG::COND_done" fired?

Question

I am using Aurora Mysql 5.7.mysql_aurora.2.07.2 and am facing bottlenecks on load testing with a write-heavy workload. On enabling performance insights I noticed that a large number of sessions were waiting on the event wait/synch/cond/sql/MYSQL_BIN_LOG::COND_done.

After going through the AWS documentation, I figured that this is caused by large number of commits which is the case in my codebase but the explanation is generic in nature for all the wait/synch/*/sql/MYSQL_BIN_LOG events and nowhere in Mysql's or Aurora's documentation I could find the exact situation in which the particular COND_DONE event is fired.