Plain English Meaning
It is the half of the circle you fly while heading into the wind. Because the wind is pushing against you, you move across the ground more slowly, so you need less bank to stay the same distance from the point on the ground.
Full Definition
During a turns-around-a-point maneuver, the upwind half is the portion of the circular ground track flown while the airplane is moving generally into the wind. In this half of the circle, groundspeed is lower than on the downwind half, so a shallower bank angle is required to hold the same radius around the reference point.
Context Anchor
Used during and other when adjusting bank for wind.