TL;DR:
Microsoft are updating the Share button in Microsoft OneDrive to provide easy access to additional sharing options. When you select Share in OneDrive for Business on Web, you’ll see a contextual menu with all choices available to you for sharing files or folders with your teammates. Available for some now, others won’t see it until end of January 2023.

Details:
Users who interact with the OneDrive/SharePoint Share button will see this new menu:

  • Share link – Email link or Send link: Email the file link directly to a one or more recipients
    • Note: you may see one of three different notations until Microsoft have finalised the design
  • Copy link – Copy a link to share with recipients directly
  • Manage Access – View and manage who has access to your files or documents

Availability:
Due mid to late August 2022 for most of us.
Now due early to mid-September for most of us.
Now due mid to late September for most of us.
Now due mid to late October to mid-November 2022 for most of us.
Available for some now, others won’t see it until end of January 2023.
Rolled back and cancelled. Microsoft: “Based on early feedback we have decided not to proceed with this change. Thank you for your feedback”. 14th February 2023.

Related Links and references:
MC403644

Check status:
Microsoft 365 Roadmap ID 83727

Page originally published:
4th August 2022 and kept up to date.