During the Discovery process, what determines if an Asset record is created?

During the Discovery process, the Model Category of the Configuration Item (CI) determines if an Asset record is created. A Model Category is a grouping of models that share the same asset tracking strategy and the same CI and Asset tables. The asset tracking strategy defines whether Discovery creates an Asset record for each CI of that Model Category. There are three possible asset tracking strategies: Create Assets, Don’t create Assets, and Create Consumable Assets12.

References:

1: ServiceNow Discovery Documentation, Model Categories section

2: ServiceNow Support Article, Why do Assets get created when inserting a CI that has a Model that is set to Don’t create Assets?