This question is asking for a function that will detect when users SHARE sensitive information outside your company, which means with need to create a DLP policy.
The only logical answer here for creating a DLP policy is Cloud Apps - File Policy since we have a DLP category available here
Answer B is correct. Of course, you can do this in a DLP Policy in the compliance portal but the key here is "Using the Exchange admin center". This definitely lends to B being the correct choice.
The correct action to be alerted when users share sensitive documents from Microsoft OneDrive to any users outside your company is to create a file policy in the Microsoft Defender for Cloud Apps portal, not from the Exchange admin center creating a DLP policy.
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