As this is something you may not review and check frequently, you need to know there have been few changes related to the Location setting in Entra ID Conditional Access.
The first one, quite minor if you think about it, is the Location setting has been renamed to Network.
The second change is an additional location called “All Compliant Network locations”.
The All Compliant Network locations is related to the new Global Secure Access capability (see What is Global Secure Access (preview)? – Global Secure Access | Microsoft Learn for more details).
It allows you to automatically defined network location based on this Global Secure Access without having to continuously manage and update Conditional Access Locations.
This update is available for both new and existing Conditional Access.