Well lets see KB5034848 came out yesterday 29Feb24.
I don't have O365 but if I go to Start>All Apps scroll all the way down to Windows Backup System..."we'll backup your info in the cloud" blah blah blah. That makes me wonder...I have this PC Unlinked from One Drive, disabled one drive, uninstalled one drive...wonder if that will still work? Just booted up my 2nd Win11ProOEM pc and I was able to get a screenshot. This NAG Screen comes with the KB5034848 update...since it wasn't here preupdate and appeared post update.