I found a similar post that had the answer! Sorry for posting before searching the forum. Here's the answer for anyone wondering:
Privacy and Lock
Supported on: iOS, macOS, Android, and Windows
Privacy options will allow/prevent Systems Manager from displaying SSID or location information for devices in scope of the profile.
The Lock options control the behavior of the Activation Lock feature on supervised Apple devices. Enabling 'Allow Activation Lock' will allow end users to use Activation Lock in the 'Find My' app with their personal Apple IDs. Enabling 'Allow MDM Activation Lock' will automatically send a command to Apple to enable Activation Lock on a DEP-enrolled device. The command will enable Activation Lock on target devices using the Apple ID of an Apple Business Manager or Apple School Manager administrator.