This section of Lost Horse Road is approximately 1 mile long and dead-ends at a gate.
Past the gate, the road leads to the Lost Horse Ranger Station which is closed to the public.
The limited information online suggests it may be used for the Artist Residency Program, but details are scarce.

Even if the gate is open, do not drive past it or you may get locked in or ticketed by the rangers. There are signs posted at the gate to let you know not to go past it. There are trails behind this gate, so check with the ranger if it is ok to park here and hike in.

Along this road, there are many turnouts that lead to cool rock formations and cliffs. Rock climbing is popular in this area of the park.
The road itself is well maintained and most vehicles, except low-clearance vehicles, should be able to complete the 1-mile trail with an issue.