Google appears to be finally rolling out the Download manager feature to the Google Play Store. The feature gives users the ability to see the download progress of all apps at one place and open them once done, without going to the Manage apps section.
Download Manager has been in development for more than six months and is now rolling out in Google Play Store. We spotted it on two out of three phones running version 46.6.21-31 and above, suggesting the feature could gradually be rolling out to the masses.

Download manager shows all the apps that are currently downloading, alongside the apps that a user has recently installed. The latter doesn't seem to work as of writing this, as the feature force closes and disappears when all apps are installed.
The feature shows users the progress of the apps with a small down arrow enclosed in a circular progress bar. Once all downloads are complete, the arrow then turns into a tick sign, suggesting all tasks are done.
While at it, it also shows a number indicator, letting users know how many apps are in the download pipeline, or are done downloading. Tapping on the feature slides up a small overlay from the bottom, revealing the progress of downloads and then displaying an Open button.
The Download manager could come in handy if a user tends to download apps but forgets to open them. It's an extension of another Play Store feature that Google rolled out last year, where a user will be notified if they haven't opened a newly installed app.
Google has been rolling out new features to the Play Store to make app management easier. In the last year, Play Store has been blessed with features like Parallel downloads, user interface changes, AI-powered app summaries, and more.