Substituting a V6 with a iii6/4?

I’ve just got to the end of the 5.4 The Cadential 64 Chord of HT1 and was wrong footed with the last question in the section… "… what might the iii64 might be used for:

1. As a bridge between connect I and vi
2. As a general replacement for V6
3. Both a and b … this is the correct answer!
4. None of the above"

I can see 1 but 2, seem to have come out of nowhere. The V chord is major and the iii is minor. The iii chord is made up of notes 3, 5 and 7 whilst the V is 5, 7 and 2 … I’ve obviously missed something on the way through … can anyone put me back on track?

Thanks.
Patrick.

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