The SharePoint Online expiring access policy controls how long external users can use a sharing link. You don’t have to use this policy, but it’s a good idea to configure it. And once the policy is active, users will see notices when their sharing links approach expiration. The process to renew (extend) sharing links is quick and easy. And if you want even more protection, consider combining this policy with sensitivity labels.
https://office365itpros.com/2021/11/16/sharepoint-expiring-access-policy/
