It won't be applying the brakes, I'm sure of it. It will feel like it is because it's not you that's lifting off.
It's quite disconcerting as you come over the top of a hill and then it dips down again, where it's been revving higher to maintain the speed... suddenly there's nothing it feels very weird, I shat myself thinking the cambelt went the first time I came over the top of a hill with cruise on

only for a few seconds, until I rev'd the engine and found it still had (some) life left in it