The following article will explain what the pick up features does on V2 and V3.
What does it do?
The pick up feature allows you to pick the ball up on a hole and to clear the shots from that hole.
Say you are playing in a matchplay competition and your opponent concedes the hole, you can press pick up and that hole won't contribute to your stats since it wasn't completed.
How do you indicate that you want to pick up your ball?
Ideally, stand at the location where your last shot finished. Scroll through the screens by pressing the middle left button until you arrive at the second PinCollect screen. On this screen you will see the option 'Pick up' to confirm that you wish to pick up, press the bottom left button.
If you are playing in GPS+Track mode on V3 and you would like to Pick up your ball and clear all of the shots on that hole, the pick up option will be available by pressing the top left button, navigating to Penalties and then use the bottom right button to scroll to the Pick up option. Press the top left button you would like to Pick up.