(A question of similar vein has been asked before but both the question and the accepted answer do not provide the detail I am looking for)
With the
I would advise you to check the following page for security details...
https://www.attosol.com/sample-aspx-page-to-show-security-details-in-asp-net/
Once you are done with this, you will see "precisely" how impersonation changes the identity.