FHRP
Useful for hosts, which cannot configure more than one IP.
FHRPs can suffer from asymmetrical routing, if two switches advertise the same subnet, upstream equipment cannot know which switch is the primary.
This is generally not a problem if both switches can still reach both hosts, but becomes a problem with spanning tree blocking ports.
Terms
FHRP — First Hop Redundancy Protocol
VIP — The IP intended for hosts provided by the FHRP.
References
First-hop redundancy protocol - Wikipedia
Network Services Configuration Guide, Cisco IOS XE 17.x - Configuring VRRP Cisco IOS XE 17 - Cisco
RFC 9568: Virtual Router Redundancy Protocol (VRRP) Version 3 for IPv4 and IPv6 | RFC Editor