From NYS Dept Of Environmental Conservation
This short-eared owl is showing off a behavior known as “rousing”. Rousing is when a bird lifts and shakes out its feathers, often to rearrange displaced feathers and shake off water and dust during grooming. It’s also a sign of a relaxed and content bird.
From some quick browsing, it seems like most, if not all birds will rouse. It sounds much like it serves most of the same functions as a puppy dog shake - floofing up the feathers/fur, shaking off water/dust, or for some invigoration after a nap.
I also stumbled on this short article about it as part of a pre-flight behavior and how as a photographer to use this understanding as a tool to catch take off shots:
All these things do line up with my own experiences watching birds.