Final answer:
Printer redirection is the feature in Remote Desktop Services that allows clients to print locally from applications running on a remote server.
Step-by-step explanation:
The component that allows a Remote Desktop Services (RDS) client to print locally on a printer connected to the local client computer is known as printer redirection. This feature is part of the Remote Desktop Protocol (RDP) and it enables users to print documents from applications running on the remote server to their local printer. When the RDS client connects to the server, the local printers available on the client are redirected and made available within the remote session.
Therefore, when a print job is initiated, it is sent from the server to the client's local printer as if it were a local print job. This happens seamlessly and provides a more integrated and productive user experience.