CPES isn't a panacea but it gets into the grain structure of the wood and seals it, which is why you use it. The solvents get the epoxy in there and seal it up, killing any rot spores at the same time. The solvents are NASTY (which is the entire point); you're not trying to be KIND to that which is eating your wood!
If deterioration has started but structural integrity is still present this will stop it from progressing. If you just seal up an area that has rot in it and don't get ALL of the water out (an impossibility in a sealed, cored structure) the rot will continue to propagate. You HAVE TO kill the existing organisms and prevent any that escape your "killing fields" from being able to access more material to consume, and you HAVE TO dry it out as much as is possible.
You'd be shocked at how far that stuff penetrates into sound wood - in even mildly compromised wood it literally saturates it all the way through. If the wood is not fully sound you'll find that you can keep "feeding" CPES into it for what seems like forever - it will keep travelling through the structure until it reaches fully sound material and then keeps going for quite a ways further.
When I fixed Gigabite's bow pulpit area I removed the bottom skin from the damaged area, removed the damaged core and then ran CPES into the now-exposed core beyond the damaged area. Once that was done I then laid in new coring soaked in CPES and bedded in thickened conventional epoxy and then relaminated on new glass on the underside of the re-cored area. It was a NASTY job but when complete I'm willing to bet you could drive a truck over the repaired structure, and any vestigal rot organisms that were present beyond the removed area were definitely DEAD and of no further threat to the rest of the deck core, plus a wide radius around the removed and repaired area had been saturated with CPES and thus was no longer able to support further growth even if some of the spores survived.