I've put together this visual in order to help me understand the different controls you can use to share SharePoint content using the Microsoft 365 and SharePoint admin centers.
View Your MS 365 Licenses and License Count
For admins and tenant users: View your MS 365 Licenses and License Count
Get the Latest Feature Releases in Microsoft 365 Using the Targeted Release Feature
With the Targeted Release option, you and your users can be the first to see the latest MS 365 updates.