These are great questions. Takeover is basically every player has a special power. If you make enough play within that players "power" takeover will trigger. What I've found is once takeover is activated you have access to more favorable animations and ratings are boosted.
There is also a team takeover based off team play. It will activate.
I'm not the best person to explain this. Because I turn off pretty much everything except the stamina bar. I hate all the flashing things on screen I just want to play ball.
But here is a quick article from the boys at 2KLabs
https://www.nba2klab.com/nba-2k24-best-takeover-guide
My best takeover moment this year. Had to be posting with 1996-97 Gary Payton. I made a steal. Deflected a few passes. Made a few assist. But some where along the line. My opponent couldn't get passed GP or if he made any kind of silly pass. GP would steal it. I saw steal animations I've seen since that game. There was a steal I will always remember. He was throwing it into the post. I pressed up steal on the right stick. GP jumped probably the highest I've seen and stole the pass.
Here is another article
https://www.sportskeeda.com/basketba...plete-list-use