Note, this goes off the assumption that Category is a class, which seeing you tagged this "nullable reference types", that's a pretty good assumption.
Whether you include = default! or not has no effect on the final compiled code.
public class C {
   public string A { get; set; }
   public string B { get; set; } = default!;
}
A and B will be treated the same way by the compiler.
public class C
{
    [CompilerGenerated]
    private string <A>k__BackingField;
    [CompilerGenerated]
    private string <B>k__BackingField;
    public string A
    {
        [CompilerGenerated]
        get { return <A>k__BackingField; }
        [CompilerGenerated]
        set { <A>k__BackingField = value; }
    }
    public string B
    {
        [CompilerGenerated]
        get { return <B>k__BackingField; }
        [CompilerGenerated]
        set { <B>k__BackingField = value; }
    }
}
And this makes sense. default of a class is null, so = default just makes the property (and backing field) null, which is what would have been done anyways had you not typed = default.
So why the !? It's to make the compiler not throw a warning.
No really, that's it. It's to suppress the compiler warning you would have got had it not been there. When you use nullable reference types, the compiler wants you to always assign a value to your properties before the constructor exits. Using ! calms the compiler down as you pinky-promise that it won't be null when you try to read it back, but satisfies the requirement that some value is assigned.
public string A { get; set; }
// "A" might have a null value after the constructor exits
public string A { get; set; } = default;
// "Uh dude, you're trying to assign null to something that doesn't accept nulls".
public string A { get; set; } = default!;
// "Ok, you're assigning null, but I'm going to trust you know what you're doing".
You can also get around the problem by specifying a value in the constructor
public class C {
   public string A { get; set; } // no warning
   public C()
   {
       A = "f";
   }
}
Another thing to note, C# 11 just came out (November 2022), which has the required keyword, which takes care of all this nonsense.
public class C
{
    public required string A { get; set; }
    // no warning, no default, no constructor needed
}