@Reed In online migration, during the cutover target db goes through the recovery process and is unavailable for any reads and writes. But once the cutover is completed successfully, target db can start taking the reads and writes both.
In case of VM and MI, DMS uses backup and restore. We ask to stop the application just before the cutover to get data consistency between source and target by taking final log backup when there is no writes happening on source and then restoring it to Target.
Let me know if you are looking for any additional information.
Regards
Geetha