Hello KevinShaughnessy,
thank you for your detailed post on that. Actually, I really wonder how customers should configure their mail flow if they have a central mail flow to a third-party provider for compliance reasons. So the mail flow is as follows
Internet -> third party mailgateway -> EXO -> mailbox forwarding -> third party mailgateway -> forwarded target mail system
In my opinion, it is not possible to keep up that scenario after the change as we can not "force" the SRS on a partner connector in EXO. It is only possible to do it over on-premises Exchange connectors. If we forward over the on-Premises connector after changing SenderRewritingEnabled to true, it is working properly.
Is there a chance to set SenderRewritingEnabled on partner connectors in the future?