A recent Teams Live Event hosted by Microsoft’s Information Protection team discussed the automatic assignment of sensitivity labels to SharePoint Online and OneDrive for Business content. A preview is now available and Microsoft hopes to make this functionality available at the end of March 2020. You’ll need Office 365 E5 or Microsoft 365 E5 licenses.
https://office365itpros.com/2020/01/27/microsoft-previews-auto-label-policies-sensitivity-labels/
