The oil filter is the main component for keeping the oil clean as well as keeping the motor oil in line. Back in the days oil filters were never a thing so it resulted in frequent oil changes. The engine oil filter helps keep the moving parts dirt free, and allow it to run at its normal performance.
Bypass and free flowThe full flow transfers oil that is pressurized to a filter, which then goes to the bearings. The job is the protect the engine from any wear.
The bypass is a second filtration to recycle the oil and keep it free from any dirt or debris. Also modern bypass filter systems are systems which allow a bleed from the direct pump to the bypass filter. The bypass filter gives you that extra filtration and oil change interval longer, making it popular among the people.
Pressure relief valvesA lot of lubrication systems include a relief valve to allow oil to pass to prevent oil starvation. Usually the pressure valve comes with the oil filter. Pressurized oil would be almost impossible to travel to the working parts without an anti-drain back.
A clogged oil filter can be bad, leading to overheating, weak engine performance, and damage to the engine.