Hovering simply means getting the mouse pointer (the actual one) positioned above the object (regardless of what it is) without clicking on it.  This often triggers an informational "blurb" to pop up in its own little viewport.  Sometimes screen readers see and read hover-over messages, other times they don't, probably directly dependent on how the viewport was implemented.

I thought I had recalled that JAWS had implemented a specific single letter browsing shortcut for items that have hover-over properties set, and in looking at the JAWS 2022 Keyboard Shortcuts document I see that my memory is correct.  The JAWS command is semicolon and it's describes as Next Mouse Over Element.  You can also press CTRL + Insert + semicolon to get a list of all such elements on the page.
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Brian - Windows 10, 64-Bit, Version 21H2, Build 19044  

Here is a test to find out whether your mission in life is complete.  If you’re alive, it isn’t.
     ~ Lauren Bacall