The status label is an overlay that can display your in-game FPS and your current total CPU load. Showing your CPU load in-game is useful when you are testing custom stream settings with XSplit Gamecaster (as there is a chance it might be getting overworked).
To enable the Status Label, open XSplit Gamecaster, click on the Settings Tab, and check the box called "Show status label inside the game":
Check the boxes of "Game FPS" and "CPU Load" to display both of them in the status label:
Select where you want the status label to appear:
When you go back to your game, you should see the FPS and CPU Load: