Hi @Sergio Londono,
1.The SharePoint sharing setting "New and Existing Guest" interacts with the External collaboration settings in Microsoft Entra External ID. If you set “only users assigned to specific admin roles can invite guest users” in Microsoft Entra External ID, this setting overrides any sharing settings that you configure in Microsoft 365. If I do not invite guests using a users with User Administrator or Guest Inviter roles, a prompt appears:
2.Regarding the integration between SharePoint online and Microsoft Entra B2B, Microsoft Entra B2B provides guest-user authentication and management. With SharePoint and OneDrive integration with Microsoft Entra B2B, use one-time passcodes for external sharing of files, folders, list items, document libraries, and sites.
Once the integration is enabled you and your users don't have to reshare or do any manual migration for guests previously shared with. Instead, when someone outside your organization clicks on a link that was created before Microsoft Entra B2B integration was enabled, SharePoint automatically creates a B2B guest account. This guest account is created for the user who originally created the sharing link. (If the user who created the link is no longer in the organization or no longer has permission to share, the guest won't be added to the directory and the file will need to be reshared.)
However, if Microsoft Entra B2B integration isn't enabled, SharePoint external authentication is used instead and no guest account is created. If Microsoft Entra B2B integration is enabled, a guest account is always created and Microsoft Entra settings apply.
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