It's not for changing the behavior of the keyboard. It's for changing what is displayed when using the alternate character set.
character-map-overrides is specified as an object. It is a sparse array, where each property is the character set code and the value is an object that is a sparse array itself. In that sparse array, each property is the received character and the value is the displayed character.
For example, specifying the following:
{"0":{"+":"\u2192",",":"\u2190","-":"\u2191",".":"\u2193","0":"\u2588","h":"\u2591","i":"\u256c","~":"\u2022"}}
This would modify character set "0" and add codes for "+", ",", "-", "." (arrows pointing right, left, up, and down, respectively), and "0" (solid square block). It would also change the codes for "h" to a light shade (board of squares), "i" to box drawings double vertical and horizontal (lantern symbol), and "~" to a bullet.