@benv , I heard back from development:
For Exchange/OD/Teams if the service is disabled we won’t consume license on Commvault side, either.
In case of sharepoint please find the documented link https://documentation.commvault.com/11.24/essential/125430_office_365_sharepoint_in_usage_calculation.html
If the user enabled with sharepoint service then we will count against commvault license.
To know how the SharePoint users which will be considered can be identified using below powershell command.
Get-MsolUser -All " + " | where {($_.isLicensed -eq \"True\")} | where {$_.Licenses.ServiceStatus | where {($_.ServicePlan.ServiceType -eq \"SharePoint\") -and ($_.Provisioningstatus -eq \"Success\")}}
Let me know if that helps!