TL;DR:
Live Captions in Teams meetings currently has profanity filtering turned on by default. A new toggle will allow you to turn profanity filtering on or off. Perfect for those meetings with Gordon Ramsay 👨🏻‍🍳. Now due mid-April to early May 2023.

Details:
You will be able to control this option via Settings in Teams > Captions and transcripts > Filter profane words in meeting captions:


Availability:
Due early to mid-May 2023.
Now due mid-April to early May 2023. 

Source, related links, and references:
MC537415.

Check status:
Microsoft 365 Roadmap ID 113412.

Page originally published:
18th April 2023 and kept up to date.