Shared Library - Metadata

Are you asking abut the old shared Albums (previously called Shared Photo Streams) or the recently introduced Shared iCloud Photos Library? You mention both terms in your question, so I am not sure, which iCloud service you are asking about.

• For the older Shared Albums, it will depend on the system version, if the date will be included. This is possible since macOS 12 Monterey. On older system versions the date and the location will be stripped for security reasons. But the most recent versions are allowing us to sort the shared albums by date, the the date is now preserved. But on all system versions the shared photos will be downsized to 2048 pixel on the longest edge. The cloud storage for shared albums is free.
• With the Shared iCloud Photos Library we can share the photos and videos at the original resolution, with all metadata included, locations, titles, options, keywords, dates. The subscribers can add adjustments and modify the metadata. But we cannot share the albums or folders. We are sharing an unstructured set of media. And the person who is setting up the Shared iCloud Photos Library will have to pay for the storage. And only users with macOS 13 or later or iOS 16 or later can access the Shared iCloud Photos Library.

In Shared albums the location is stripped for security reasons. For some photos we should not share the location, for example, if we managed to take a picture of an animal of an endangered species, sharing a photo online with the location embedded might tell poachers where they can track it down and find it. As Photos does not offer a tool to remove location data, before sharing photos in a shared album, Apple is removing all location data automatically. If we want to share the location, we have to add it to the comment of the photo.

But in a Shared iCloud Photos Library, the location data will be preserved.