Concentrating authoritative judgment in any single person or class, however virtuous, forecloses the epistemic benefits of disagreement that Millian pluralism identifies as essential to collective practical knowledge.

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Collective practical knowledge(as used in the statement): Knowledge that a group of people gains together about how to actually do things and make decisions in the real world.
Epistemic: "Epistemic" relates to knowledge—how we know things, what counts as knowledge, and whether we can trust what we believe to be true. It comes from the Greek word for knowledge and is used to describe questions about the reliability and validity of our beliefs and understanding. For example, "epistemic humility" means acknowledging the limits of what you can actually know for certain.
Forecloses(as used in discussions of free will and constraint): Closes off or eliminates a possibility, making it no longer available or achievable.
John Stuart Mill / Millian pluralism(as referenced by 'Millian pluralism'): John Stuart Mill was a famous 19th-century philosopher who argued that hearing many different viewpoints and allowing people to disagree is essential for society to make good decisions and understand truth.

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