i can't see it in the manual either, but the thing to do is select the tie points in the sparse point cloud 3d view, using the various selection tools (rectangle/circle/freeform/gradual available in the model menu, or via the toolbar icons), and then right-click and choose "Filter photos by tie points" (in the lastest version - i think it was "filter photos by points" in previous versions).
"Filter photos by point" is something else, and just filters using the point at which you right-clicked, which is probably more useful in dense cloud or mesh mode.