Picture the aorta as the single door every beat of blood leaves by. In subvalvular aortic stenosis a ridge or ring of fibrous tissue sits just below that door, narrowing it. The left ventricle has to generate far more pressure to force the same volume through a smaller opening.
Over months and years the ventricle wall thickens in response, the way any muscle does under load. Thicker muscle needs more oxygen but has a harder time getting blood into itself, which sets up the central danger: during hard exertion the muscle can outrun its own supply, and an oxygen-starved ventricle is prone to sudden, chaotic rhythms.
That is why this condition carries a risk of sudden death during exercise, and why it matters enormously in a breed rated five out of five for exercise need. A dog that is happy, bright and apparently thriving can be in genuine danger during the exact activity the breed exists for.
The severity spectrum is wide. Mild narrowing may never cause a problem in a normal pet life. Severe narrowing changes everything about how the dog can be kept.