You create a translucent magical shield in an empty hand that remains attached to your arm until dispelled, duration expires or you loose concentration on the spell. The shield is similar in shape and size to a conventional shield, granting you the +2 bonus to AC that you would normally gain while wearing a shield. As the arcane shield is magically attached to your arm, the caster is not required to maintain a grip on the shield and as such their hand is still free to use somatic components for spellcasting. However, the shield's bulk still prevents you from wielding two-handed weapons or dual-wielding.
Any class feature or ability that requires the creature to wear a shield, this shield can fulfil the requirement to utilize those features.