New PowerShell commands for sensitivity labels can configure default sharing link settings for SharePoint Online sites. Any site assigned a label configured for default sharing links inherits those settings within 24 hours. The new settings are in public preview now with general availability expected later this year. They build on the existing set of controls for container management available for sensitivity labels and show how powerful it is for organizations to be able to deploy management policy settings via labels.
https://office365itpros.com/2021/06/08/set-spo-default-sharing-links-sensitivity-label/
