Create Project via msdyn_CreateProjectV1 and assign an microsoft 365 group

We have now solved the whole thing using an Azure Function (within a Logic App) and corresponding C# code.

We create a team and link it to an AAD group. The team is then assigned the appropriate security role. (https://docs.microsoft.com/en-us/dynamics365/customerengagement/on-premises/developer/org-service/sample-assign-record-new-owner?view=op-9-1)

var projectteam = new Entity("team", Guid.NewGuid());
projectteam["name"] = officeGroupName;
projectteam["businessunitid"] = new EntityReference("businessunit",Guid.Parse("GUID_BUSINESSUNIT_HERE"));
projectteam["azureactivedirectoryobjectid"] = officeGroupId;
projectteam["teamtype"] = 3;
projectteam["membershiptype"] = 0;
projectteam.Id = crmServiceClient.Create(projectteam);

// Add the role to the team.
crmServiceClient.Associate(
    "team",
    projectteam.Id,
    new Relationship("teamroles_association"),
    new EntityReferenceCollection() { new EntityReference("role", Guid.Parse("SEC-ROLE-GUID-HERE")) });

We then create the project with the API "msdyn_CreateProjectV1". Here we then set the "ownerid" to the ID of the created team.

project["ownerid"] = new EntityReference("team", Guid.Parse(projectteam.Id.ToString()));

It takes some time until the connection is shown in P4W.