Microsoft Entra ID Identity Protection is a risk-based conditional access capability that "automates the detection and remediation of identity-based risks" and enables admins to investigate risky users and sign-ins.
SCI guidance explains that Identity Protection evaluates signals such as user risk and sign-in risk, raises risk detections, and can automatically remediate by enforcing actions like password reset or blocking access via risk-based policies. The portal provides rich investigation experiences for risky users, risky sign-ins, and risk detections, allowing security teams to review evidence and confirm/dismiss risks. In addition, identity risk data can be exported through Azure Monitor/diagnostic settings and integrated with SIEM/SOAR tools, enabling "export of risk detections and security alerts to third-party solutions" for correlation and response.
Tasks such as configuring external access for partner organizations are handled by B2B collaboration features, and creating/assigning sensitivity labels belongs to Microsoft Purview Information Protection-not Identity Protection. Therefore, the tasks Identity Protection supports are: export risk detection (B), automate detection and remediation of identity-based risks (C), and investigate risks related to user authentication (D).