What changes
The container and compression change; the decoded picture does not gain information
The converter reads the JPEG pixels and writes them into PNG. Existing blocks, ringing, blur, and color loss remain visible because PNG can preserve only the pixels it receives. The output avoids another JPEG compression stage, which is useful for some editing steps, but that should not be confused with improving the original photograph.
Transparency
PNG supports alpha, but conversion cannot infer which JPG pixels should disappear
A JPEG has no transparent channel. The PNG result begins as a fully opaque image unless a separate editing process removes a background or creates transparency. Merely converting a white-background JPG to PNG does not make the white area transparent and should not be presented as background removal.
File size
Photographs commonly become larger as PNG
JPEG is designed for compact photographic storage, while PNG is efficient for repeated flat colors, crisp graphics, and transparency. A decoded photo contains many color variations, so its PNG can grow substantially. Keep JPG when the destination accepts it and small photo delivery is the primary goal.