To implement the requirement of requiring admin approval for application access to organizational data, you should configure:

B. the User consent settings

Configuring the User consent settings allows you to control whether users can grant consent to applications themselves or if admin approval is required for application access. By setting the User consent settings to "Require admin approval," you ensure that users cannot grant consent to applications accessing organizational data without the approval of an administrator.

Options A, C, and D do not directly address the specific requirement of requiring admin approval for application access. Authentication methods, access packages, and application proxy are related to different aspects of identity and access management, but they do not directly pertain to user consent settings and approval requirements.