This feature is currently in deployment – available for targeted tenant or rolling out starting mid-March up to mid-April for standard release.
These reports are going to help security and compliance officers to identify if there is any gap, issue or misconfiguration on how files are shared or on applying sensitivity labels.
To access these report, logon as a SharePoint Administrators or Global Administrator to your SharePoint Online administration portal (https://your tenant>-admin.sharepoint.com) and access the Reports\Data access governance blade
Then you access one of the report and run all reports the first time you access the reports as well as to refresh to reports.
Depending of the report you may have different options; for the Sharing links report you have nothing to do except running the report (one of them can be manually started), for the Sensitivity labels you will have to create the report by selecting the Sensitivity Labels you want to get (as obviously this will be based on your tenant Sensitivity Labels).
Once reports have been generated/updated, depending of the type of reports (Sharing links vs Sensitivity Labels) you will be able to either access the report by clicking on it (Sharing) or download the report (Sensitivity Labels).
Unfortunately if for some reason the report failed to be generated/updated, you just get an error message with no details or option to get details on the issue.
