I am trying to understand, in detail, what is going on inside. What components are involved and interacting. A cross-section view would be very useful. Seems like there are springs and ball bearing involved but I'm not sure. Relevant video: https://youtu.be/FZuSmCx4tzg?t=46 Relevant product link: https://www.amazon.com/Aluminum-Diameter-Release-Button-Bonnet/dp/B08JLR8F5T
You're right, the system operates with spring and ball.
And as pointed out this system is easily found searching using terms like "spring ball release mechanism" or derivatives.
Edit: Link: https://patents.google.com/patent/US9431162B2/en
This patent is for a solenoid system (not exactly the same as the button as pointed out).