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I see these things at construction sites pretty often and have no idea what they are for.
It’s about 5 feet tall, 2 feet wide, 2 feet deep, 3-inch wall thickness and hollow. Big circular indents on each side. They’re usually empty, sometimes with random litter inside.
What is its purpose?
It's a junction box for stormwater pipes. ELI5: Pipes are straight runs. Junction boxes are structures that allow for changes in direction or elevation of the pipe runs. The pipes get plugged into the holes and everything gets buried.
https://oldcastleinfrastructure.com/product/24-x-24-junction-box-mansfield/
SOLVED
Do they cut out the concrete where the pipe goes?
No, they use a portal gun in those spots to get the correct flow directions.
It probably pretty thin and easy to cut, makes it more universal since you can use it for any change instead of having to make specific ones for 90° turns or for T-junctions.