The call revokes Refresh tokens, i.e. the ability to get new access tokens. It does not affect any already issued Access tokens, so the user will still be able to access certain services until the corresponding access token(s) expire.
Some applications can behave differently if they have implemented the Continuous access evaluation feature, as detailed here: https://learn.microsoft.com/en-us/entra/identity/conditional-access/concept-continuous-access-evaluation
For such apps, access tokens can also be invalidated, which usually happens few minutes after you issue the call. However, not every app supports said feature, including many apps owned by Microsoft.