When does a function assigned to the content_filtered_edit_pre filter hook fire?

This is activated within the sanitize_post_field() function:

Calls ‘edit_{$field}’ and ‘{$field_no_prefix}_edit_pre’ passing $value
and $post_id if $context is ‘edit’ and field name prefix is ‘post_’.

So in the case of the post_content_filtered field, the filters are

edit_post_content_filtered

and

content_filtered_edit_pre