Kenneth Fisher describes what is in the system_health Extended Events session:
Per BOL you get the following information:
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Errors with a severity of >= 20.
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Memory related errors (Errors 17803, 701, 802, 8645, 8651, 8657 and 8902).
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Non-yielding scheduler problems (Error 17883).
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Deadlocks.
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Sessions that have waited on locks for > 30 seconds.
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Sessions waiting for a long time on preemptive waits (waits on external API calls).
Read on to learn more of the things this session contains as well as a couple ways you can access the data.