What CMP means
The acronym stands for consent management platform. The most widespread confusion equates it with the cookie banner. The banner is the visible part. The CMP is the whole system: the scan that discovers which cookies and which vendors exist on the site, the logic that decides which notice to show depending on the visitor's country, the timestamped record of every decision and the route that allows it to be revoked later.
From there comes the second confusion, a considerably more expensive one. Installing a CMP does not make a website compliant. A CMP carries out a decision, it does not make one. If the notice offers categories that do not match the actual processing, if rejecting costs more effort than accepting, or if tags fire before the answer, the system will be working and the site will remain questionable.
It should also be distinguished from consent mode. The CMP obtains and stores the decision. Consent mode translates it into the signals Google tags understand. They are separate pieces that connect to each other, and neither covers the other's work.