Enabling Microsoft Defender Antivirus periodic scanning allows Defender to run as a second-opinion scanner alongside your primary antivirus product. It does not replace or interfere with the third-party AV, which remains the active antivirus solution.
The scan schedule isn't directly configurable, and Microsoft doesn't document an exact frequency. Defender automatically performs periodic scans and uses updated intelligence before scanning.
Periodic scanning is also separate from the Microsoft Malicious Software Removal Tool (MSRT). MSRT is a limited tool that checks for specific prevalent malware families, whereas Defender periodic scanning uses the full Defender scanning engine and signatures for broader malware detection.