What it means
A sharing link expiration makes that particular link stop working after its set date when the account and link type support the setting. Removing a link ends access through that link immediately. A person may still have another link, a direct permission or a copy downloaded earlier.
A real-world example
A team sends an Anyone link for a two-day review. After the date, an old reviewer cannot use that URL, yet a separate named-user invitation may continue to work.
What to do
Use Manage access to list all ways the file is shared. Remove no-longer-needed links and direct permissions separately, then test from a different account.
The distinction that matters
Expiration reduces future access through a supported link; it does not recall information already copied. Available controls vary by plan and policy. Microsoft describes Remove Link, Stop sharing and expiration in its current OneDrive sharing guidance.
Microsoft's OneDrive sharing controls
