By strict definition, the open circuit voltage of the output of DC-to-DC converters (i.e. optimizers) would be the shutdown standby voltage. Such as units that default to outputting 1 Volt per device, when the inverter is turned off, or when the inverter isn't connected yet. I would recommend calling this the shutdown standby voltage to be more specific than open circuit voltage. Because this is primarily a voltage to allow you to test polarity and string size, and to allow the optimizers to begin communicating when the inverter does get turned on. Even though this is technically an open-circuit voltage, it is by no means the maximum voltage that people usually expect Voc to be.
The max voltage by contrast, is not set by the optimizers or by the modules. Instead, the inverter governs this. The inverter datasheet will specify a maximum system voltage (perhaps 500V), and a typical operating voltage (perhaps 400V). These numbers are inverter-specific, so these are not universal numbers for this technology. The maximum system voltage (e.g. 500V) takes the place of how you used to use Voc with ordinary strings. It governs the selection of the voltage rating for every material between the optimizers and the inverter, and gets labeled on the inverter in place of the open circuit voltage. This is the maximum voltage that the optimizer string will produce, even if the optimizers have a maximum output voltage that seemingly can add up to greater than 500V. The optimizers won't all be operating at their full output voltage capacity simultaneously. The typical operating voltage (e.g. 400V) takes the place of how you use Vmp for ordinary strings, which is where you typically will find the inverter operating. The inverter aims to run at 400V when it can. If necessary to increase this voltage, then it has the 400V to 500V range available as headroom above its "preferred" operating voltage.
The way optimizer strings work, is that the inverter sets the operating voltage, and the optimizers will communicate with one another to "solve an algebra problem". The current must be identical in each optimizer, due to being in series. The optimizers then produce a voltage that is proportional to the power available to each one. This voltage of each optimizer adds up to the voltage set by the inverter. Optimizers are analogous to transformers, in the sense that they satisfy the equation V_in*I_in = V_out*I_out*efficiency. Optimizers change V_in to V_out by a ratio of A, and they correspondingly change current by a ratio equal to 1/A*efficiency. The optimizer will dynamically adjust the ratio A, as needed to "cooperate" with the other optimizers in the string.