I tried Microsoft Support through twitter and they said:
We appreciate your prompt response and providing details about the concern. We have received confirmation from our management team that this OneDrive concern is a known issue, and our team of Microsoft engineers and developers is actively working on resolving it. For now, we do not have a specific time frame for when this issue will be resolved. While this resolution is in progress, we suggest periodically reviewing the OneDrive folders if you can open them without turning them into web links. We appreciate your patience and understanding on this matter. If you have other Microsoft-related questions in mind, please feel free to share them with us again. Stay safe! -Eden
I asked:
Thanks Eden. Where can I go to monitor progress? Why isn't Microsoft sending updates or notice that the issue exists? Will they? People online have been having issues since the beginning of June.
Their reply:
We appreciate the link you shared and understand how important it is for you to get this issue resolved. Our dedicated team are actively working to restore normal service, and they are doing everything to have this issue resolved as soon as possible. For now, please continue to monitor your OneDrive shared folder from time to time. We sincerely appreciate your patience and understanding during this inconvenience. All the best. -Mary
My take:
So long story short, I sent the link to this conversation to them as support/evidence of the issue. It doesn't seem like they will be using any notifications to keep us posted on progress and we are supposed to monitor our folders to see if it gets fixed. Its an oddly unprofessional answer from such a large organization.