Links must expire within this number of days

Hi guys

I have a question about one setting in the ODFB Admin portal.

Under "Advanced settings for sharable links" there is the setting "Links must expire within this number of days".

What does that exactly mean?

I know that, if there is a number, lets say 7, than later in OneDrive there is only possible to share a file / folder with "EVERYONE" with that limitation of 7 days.

But what I dont know and dont understand is:

Does this '7 days limitation' (in that case) also apply for shares with the option "Specific people / People in Organisation?"

Thanks in advance.