The Port Alias is a label applied to all traffic from one of the two port partners throughout the trace. This allows you to easily track which side a specific packet has come from, even if Power Role or Data Role Swaps had occurred during the capture.
The name applied to each port can be configured initially in the Recording Options (see Connected Device Name), or modified after recording by right-clicking on the exiting Port Alias and selecting “Rename Left/Right Connector”.