YouTube Creator Music is a licensing program by YouTube that allows creators to legally use your music in their videos by purchasing licenses.
This feature is part of eMastered's Social Media Monetization release extra.
If you've already opted into it, your previous releases might not be included yet, but you can manually add them by going to the “catalog” section on your album’s page, where Social Media Monetization should be available as an annual subscription for that release at the bottom:

To get your music into the Creator Music Library, enable the Social Media Monetization release extra when uploading through eMastered. Once enabled, eMastered will distribute your release to the Creator Music Library where other YouTubers can discover and license your track.
When someone licenses your music, you receive 80% of the fee, which shows up in your distribution account. Licensing is non-exclusive, so you can sell the same track to multiple creators.
The cost of a license depends on the YouTuber’s number of subscribers:
$9.99 for 1K–100K,
$24.99 for 100K–500K,
$39.99 for 500K–5M, and
$74.99 for over 5M.
The earnings are split 50/50 between eMastered and your publishing administrator. If you have one and they charge higher licensing rates, the higher rate applies.
Once a license is sold, that particular video won’t be eligible for Content ID claims, and the YouTuber will earn the ad revenue.
Videos that use your music without a license can still be claimed via Content ID. Each license is valid for only one video, lasts forever (in perpetuity), and applies globally, as long as YouTube supports licensing in that country.