Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Hello Raymond,
I am glad to help you here and answer your concerns.
First "what will happen to emails if you removed licenses for a user in Microsoft 365". In Microsoft 365, if we removed Exchange Online license for a user, the user mailbox would go to "hard-delete" status, and the emails will be still saved in the "hard-delete" mailbox for 30 days, and if we re-assigned the valid Exchange Online license for the user within 30 days, the user mailbox can be recovered after that.
Moreover, if you want to convert a user mailbox to a shared mailbox in Microsoft 365, for the best practice, please refer to Convert a user mailbox to a shared mailbox. Please note, to convert a user mailbox to shared mailbox, the license must be assigned to it, after you successfully convert to shared mailbox, you could remove all associated licenses ( if the mailbox quota not more than 50GB), thanks. And all the emails will be saved in the shared mailbox during the converting process, thanks.
Please feel free to let me know if you have any other concern, thanks.
Best Regards,
Oliver