I just received the following... Is this safe? Not sure exactly what to do.

rodger2012 wrote:

About the OneDrive compatibility warning on Mac

Your Mac warns you when it detects a version of Microsoft OneDrive that uses a legacy system extension.

The version of OneDrive currently installed on your Mac is using a legacy system extension. This system extension will not be available in macOS Monterey 12.3 or later.

An updated version of OneDrive that is compatible with macOS Monterey 12.3 or later is available for download from Microsoft. For more information, visit Microsoft's support site.

If in doubt about your third party software refer to the developers website; Support/Help/FAQ/known issues/compatibility

Microsoft Corporation/Customer service

1 (800) 642-7676

https://support.microsoft.com

OneDrive help & learning - Microsoft Support

Contact Us - Microsoft Support

ref

About the OneDrive compatibility warning on Mac - Apple Support

rodger2012 wrote:

An updated version of OneDrive that is compatible with macOS Monterey 12.3 or later is available for download from Microsoft. For more information, visit Microsoft's support site.

That link quoted does not appear to be for Microsoft. I would avoid clicking on it since I don't recognize the URL. If you are ever in doubt, you should not click on any links that pop up and use extreme caution for links within text messages, emails, and on webpages. Go directly to the Microsoft website yourself to get the latest versions of their apps or use the Apple App Store.