The second example doesn't allow narrowing, which means a conversion with a loss of information. So for example you could write 4.5 in test1 but for test2 that would be a compile error.
The long and short of it is, as Krako said, it won't allow narrowing conversions. So:
1 2 3 4 5 6
constdouble pi{3.1415};
int sliced_pi = pi; //Fine; value is 3
int also_sliced_pi(pi); //Same as above
int unsliced_pi{pi}; //Not fine; narrowing conversion your compiler (hopefully) catches
Of course in all of the above, your compiler will (again, hopefully) warn you for the first two definitions, but assuming said compiler is up-to-date, it will fail at build and generate a compiler error for the last definition.