What email address are you entering there?
If its an external email address, then yes it could be spoofed. You will want to make sure that you have SPF, DKIM and DMARC setup for your 365 tenant
If you dont want an external email sender to get the disclaimer on their messages, consider creating a new rule with a HIGHER priority then the disclaimer rule instead
For that rule, allow the messages if they pass DMARC from that sender and stop processing further rules so the disclaimer is not added.