This build is pretty much finished and only has some "last minute" script and regional / language differences compared to the final version. There are some names missing in the credits for example.
While Rockstar often left the title on their testdiscs blank, this is one of the very few UMDs to use an actual codename instead! Mainly to prevent leaks before the offical release. There are no security measures to play this build otherwise.
These discs were likely send out to Press and Reviewers very close to release. At least one later build (v0.07) exists though!
These UMDs were produced before the official release for QA-testing, reviewing up to promotional purposes. Thus some of them having unfinished builds burned to. (Where especially those not meant for the public sometimes having developer options available!) Depending on the region, company and version they might have a unique but different Disc ID compared to the final retail version. In the gaming industry these type of discs are often referred to as 'silvers'.