How it works is that when you equip a ring or amulet, it removes said ring or amulet slot mask, unless you've reached your limit. See the compatibility section for more details. It's also scripted, so it works for rings and amulets added by other mods.
This one is different in that you can limit how many of each type you can equip, and has the option to display multiple rings, up to 10.
I wasn't happy with the ones available for SSE so I made my own. This is another mod that allows you to equip multiple rings and amulets.