I copied this from the WireGuard documentation:
This is called persistent keepalives. When this option is enabled, a keepalive packet is sent to the server endpoint once every interval seconds. A sensible interval that works with a wide variety of firewalls is 25 seconds. Setting it to 0 turns the feature off, which is the default, since most users will not need this, and it makes WireGuard slightly more chatty. This feature may be specified by adding the PersistentKeepalive = field to a peer in the configuration file, or setting persistent-keepalive at the command line. If you don't need this feature, don't enable it. But if you're behind NAT or a firewall and you want to receive incoming connections long after network traffic has gone silent, this option will keep the "connection" open in the eyes of NAT.
I think by saying “a keepalive packet is sent to the server endpoint” they must mean the public IP address because on the pfSense GUI the Endpoint address is the public one and the Peer WireGuard Address is used to describe the peers tunnel address.