Introduced in December 2020, the DEFINE TABLE statement lets you define a calculated table local to a query. The table is not persisted in the model, it exists only for the lifetime of the query. Apart from that, it is a calculated table in every sense of the term albeit with some limitations.
The extension of DAX with the capability to define calculated tables local to a query is needed in order to support composite models (DirectQuery for Power BI datasets and Azure Analysis Services). There are no limitations on the use of the feature, so you can take advantage of local tables in any DAX query. We refer to calculated tables defined in a query as query calculated tables, or query tables for short.
Click through for an example of how it works.