Thanks to the folks who flagged this bug is back. Please upvote to be subscribed to the status of this bug.
Still in the works, no additional details are available yet.
-WarrenFrederick Lin commented
Just like classic SharePoint Online sites, include these options per Team/O365 Group:
Allow owners to send guest user invites only (please do not allow guests invite other guests)
We risk exposing Teams meant for internal collaboration with a control that can only be enabled at the tenant-level. Would love more granularity.
16 votesFrederick Lin commented
This is also creating unnecessary guest users in our AAD if this is feature is not enabled in the tenant.