Exchange On Premise with OAuth to Microsoft 365

We have recently upgraded to Exchange 2019 and looking to leverage OAuth with our Microsoft 365 tenant.  The calendaring is not working with Teams and the hope is this will resolve these issues with meetings and writing back to the exchange on premise calendar.  Will OAuth complete this task without requiring the Hybrid Configuration Wizard needing to be ran? Second, we have two tenants.  If we configure OAuth with the one tenant, will this have any impacts to the functionality of the second tenant?  All the users reside in the same AD and on the same exchange environment.