AWS: Boto3: AssumeRole example which includes role usage

Here's a code snippet from the official AWS documentation where an s3 resource is created for listing all s3 buckets. boto3 resources or clients for other services can be built in a similar fashion.

# create an STS client object that represents a live connection to the 
# STS service
sts_client = boto3.client('sts')

# Call the assume_role method of the STSConnection object and pass the role
# ARN and a role session name.
assumed_role_object=sts_client.assume_role(
    RoleArn="arn:aws:iam::account-of-role-to-assume:role/name-of-role",
    RoleSessionName="AssumeRoleSession1"
)

# From the response that contains the assumed role, get the temporary 
# credentials that can be used to make subsequent API calls
credentials=assumed_role_object['Credentials']

# Use the temporary credentials that AssumeRole returns to make a 
# connection to Amazon S3  
s3_resource=boto3.resource(
    's3',
    aws_access_key_id=credentials['AccessKeyId'],
    aws_secret_access_key=credentials['SecretAccessKey'],
    aws_session_token=credentials['SessionToken'],
)

# Use the Amazon S3 resource object that is now configured with the 
# credentials to access your S3 buckets. 
for bucket in s3_resource.buckets.all():
    print(bucket.name)

To get a session with an assumed role:

import botocore
import boto3
import datetime
from dateutil.tz import tzlocal

assume_role_cache: dict = {}
def assumed_role_session(role_arn: str, base_session: botocore.session.Session = None):
    base_session = base_session or boto3.session.Session()._session
    fetcher = botocore.credentials.AssumeRoleCredentialFetcher(
        client_creator = base_session.create_client,
        source_credentials = base_session.get_credentials(),
        role_arn = role_arn,
        extra_args = {
        #    'RoleSessionName': None # set this if you want something non-default
        }
    )
    creds = botocore.credentials.DeferredRefreshableCredentials(
        method = 'assume-role',
        refresh_using = fetcher.fetch_credentials,
        time_fetcher = lambda: datetime.datetime.now(tzlocal())
    )
    botocore_session = botocore.session.Session()
    botocore_session._credentials = creds
    return boto3.Session(botocore_session = botocore_session)

# usage:
session = assumed_role_session('arn:aws:iam::ACCOUNTID:role/ROLE_NAME')
ec2 = session.client('ec2') # ... etc.

The resulting session's credentials will be automatically refreshed when required which is quite nice.

Note: my previous answer was outright wrong but I can't delete it, so I've replaced it with a better and working answer.