I think it may be a clock/watchmakers “topping tool” or “rounding out tool” used to round off the tops of teeth after they have been cut with a tool similar to a parallel sided slitting saw. This tooth cutting a two stage process but as you need fewer expensive cutters it works out to be more economical. Link to a similar tool on Youtube https://www.youtube.com/watch?v=XIPqMUqZth0
Rounding up tool, you can finish the already cut wheel to mesh correctly with the pinion it drives, still useful for restoration work. This size has cutters to around m=0.35mm, their must also be for larger size wheels but you see them very rarely.