What is it about this test do you not understand?
You must compare the voltage seen at the vreg Black and green terminals with what the battery voltage is at the battery's terminals.
After that test, and assuming there is a disparity between the two measurements. You have two electrical paths to scrutinize.
A - The electrical path from the battery POS terminal to the vreg black terminal.
B - The electrical path from the Battery Neg terminal to the Vreg Green terminal.
Path A consists of the following intra-path connections:
1a - Battery post the battery cable.
2a - Battery cable at the solenoid to the red wire for the fuse.
3a - Red wire to Fuse connection input,
4a - Fuse connection output to another red wire
5a - red wire connector to to red wire connector at the key switch block connectoin.
6a - Key switch solder terminals where the red wire is soldered.
7a - The internal key switch contacts.
8a - The black wire solder connection on the back of the key switch.
9a - Inside the harness is a black wire distribution interconnect, presumably soldered. (You either take the harness apart to physically examine these. Or, you measure the voltage drop from the key switch terminal to Vreg connector.
10a - The Black wire connector lug to the spade terminal on the Vreg.
Path B consists of the following intra-path connections:
1b - Battery post the battery cable.
2b - Battery cable to frame connection.
3b - Frame connection of the Green wire.
4b - Inside the harness are Green wire distribution interconnects, presumably soldered. (Check these in similar fashion as the black wire distribution.)
5b - The Green wire connector lug to the spade terminal on the Vreg.
So far, I've identified 15 connections that can contribute to voltage loss. If, for example, each one contributed a 0.1 v drop across it, the voltage at the vreg would be 1.5 volts lower than actual battery terminal voltage.
Not specifically identified in the list above, are the wire to terminal crimps at each connector. These can also corrode and induce loss of voltage.
I used the Honda shop manual wire diagram found on page 172 for the above connection identification.
Good luck.