It was an outgrowth of the three-running-back T-formation, with the third running back (one of the halfbacks) in the T becoming a permanent flanker, now referred to as a wide receiver.
A standard pro set places the backs about 5 yards behind the line of scrimmage, spaced evenly behind the guards or tackles.
Also, with both backs in position to "pick up" an outside blitz, the pro set gives a quarterback an abundance of time to find an open receiver.
In the early 2010s, the pro set almost completely disappeared from the NFL, however in the late 2010s it was used once again as an occasional goal line and passing down formation by West Coast offense based teams.
Andy Reid recently used the Pro Set in Super Bowl LVII against the Eagles late in the 4th quarter, which led to a game leading field goal.