Gadjo,
The majority of this throttles was made for players of IL-2 Sturmovik: Great Battles (BoS, BoM, BoK, BoBp), and optimized for particular user needs.
In this specific throttle, this two wheels at left (turning encoders) is for open/close cowl flaps (in and out) of planes like La5/La5FN, for control temperature of their air cooled engine.