Hi @Michael Jiang ,
As per my knowledge, the deprecation of Basic Authentication will not affect the OData connector with the Microsoft Online Services Authentication type.
Basic authentication is also known as HTTP authentication. HTTP provides a general framework for access control and authentication. To connect to SharePoint Online, you need to use Microsoft Online Services Authentication.
Reference: Connection Manager Authentication.
----------
If the answer is helpful, please click "Accept Answer" and kindly upvote it. If you have extra questions about this answer, please click "Comment".
Note: Please follow the steps in our documentation to enable e-mail notifications if you want to receive the related email notification for this thread.