Plain English Meaning
It means the picture on the screen is drawn in the right place. A mountain shown ahead and slightly left really is ahead and slightly left, at the right distance and height. The display is not a stylized cartoon — it is a true-to-position image of the world.
Full Definition
Describes a displayed image or symbol whose position, size, and orientation accurately match the real-world location and geometry of the feature it represents, as referenced to geographic coordinates (latitude, longitude, and elevation). On a Synthetic Vision Guidance System (SVGS) display, terrain, runways, obstacles, and flight path symbology are rendered geo-spatially correct so that what the pilot sees on the screen aligns with where those features actually are in the world outside.