I would recommend looking at the enclosed link as it has about 5 or more ways to cut ties.
In my experience, cutting ties isn't something to do just because you miss someone whom will be returning soon because it's a process & is for someone to utilize to achieve long term letting go.
If someone is missing someone due to the person being separated for a period of time I would recommend the person look for other ways to find the calm he or she is needing (yoga, meditation, etc., even contacting a licensed medical professional if need be.)
Cutting ties is utilized when you seriously want the person removed from your life as it assists in breaking the bond that the two of you share, it's not for someone to use to help them cope with the loneliness, etc., it's about severing the ties that bond the two together which isn't an easy process & shouldn't be taken lightly.
I would not recommend doing it if someone has died; instead I would recommend griefcounseling for the living.
To answer your questions : No it will not make you forget about the person, etc. it's specifically to cut the ties between the two people.
Once done the personstill needs to actively leave the person he or she has cut ties with alone (in cases of family where maybe a couple share a child; cord cutting will not help if both people are in constant communication so it would be better for the person to seek counseling, an order of protection if abuse is present, etc.)
I hope this information helps you to better understand cord cutting.