You can leverage the powerful masking and tracking workflows from After Effects directly within Premiere Pro.
Masks let you target specific areas in a clip to which you want to apply effects or color corrections. You can apply the effects either inside or outside the masked area.
One of the common uses of masking is to blur a person's face to protect their identity. For example, you can mask a person's face by applying a Blur effect or a Mosaic effect.
You can also use masking in more creative ways like applying a mask to correct a specific color. Or you can use an inverse mask selection to exclude the masked area from color corrections applied to the rest of the clip.
In addition, you can add multiple shape masks with different effects to different areas of a clip.