@Ken Khor Thanks for posting in our Q&A.
For these questions, both will not wipe devices. Wipe action restores a device to its factory default settings. The device clean up rule doesn't trigger a wipe or retire. Device Clean Up rule only disconnects the connection between devices and intune. We just couldn't see the device records in intune portal.
Based on my understanding, for these two scenarios, the device will not reconnect to intune. The device check-in will be denied. The policies on the device will stay and intune portal won't have any updated information about this device. If we want intune manage the device again, it is suggested to delete the device record in Azure AD portal and do re-enrollment.
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