"When a user records a channel meeting, it is saved in SharePoint Online. Other meetings are saved in OneDrive for Business.
For a Teams user’s meetings to be recorded, OneDrive for Business and SharePoint Online must be enabled for their tenant. In addition, there are several licensing, permissions, and other setting prerequisites that are required for both the meeting organizer and the person who is initiating the recording:
User has sufficient storage in OneDrive for Business for non-channel meetings to be stored.
User has sufficient storage in SharePoint Online for channel meetings to be stored.
User has consented to the company guidelines, if set up by the administrator.
User has Allow cloud recording setting set to On.
User is not an anonymous, guest, or federated user in the meeting."