Privileged Administrator Roles are high-level roles that provide users with elevated permissions to manage resources across the Azure environment. These roles have more access and control than typical user roles, which makes them essential for managing critical aspects of your environment. Examples of Privileged Administrator Roles include Global Administrator, Security Administrator, and User Access Administrator.
Job Function Roles, on the other hand, are roles specifically designed to provide users with permissions to perform particular job functions or tasks within the Azure environment. These roles are more focused on specific responsibilities and have a narrower scope of access compared to Privileged Administrator Roles. Examples of Job Function Roles include Network Contributor, Storage Account Contributor, and Virtual Machine Contributor.
The reason why only Owner, Contributor, and User Access Administrator assignment types are displayed as "Privileged" in your Azure AD PIM might be due to your organization's specific configurations. These roles are considered privileged because they grant elevated permissions that allow users to manage resources at a higher level.