Microsoft M365 Exchange backup failure with SaaS Connector Framework Error 67113881/801 401 Access Denied (V-79-57344-43293)

Problem

During a Microsoft M365 Exchange backup the job fails immediately with a SaaS Connector Framework Error 67113881/801.
 

Error Message

Backup - SCF::\\<tentant>\O365Family\O365Exchange
SaaS Connector Framework error: Error code: 67113881/801. Access is denied.  (401) HTTP Error. 
V-79-57344-43293 - SaaS Connector Framework error - Access was denied.

0xe000a91d - SaaS Connector Framework error - Access was denied.
SaaS Connector Framework error: Error code: 67113881/801. Access is denied.  (401) HTTP Error. 

Cause

Microsoft API issue.

Under Investigation

Solution

A supported hotfix has been made available for this issue. Please contact  Technical Support to obtain this fix. This hotfix has not yet gone through any extensive Q&A testing. Consequently, if you are not adversely affected by this problem and have a satisfactory temporary workaround in place, we recommend that you wait for the public release of this hotfix.

The Product Engineering Team currently plans to address this issue by way of a patch or hotfix to the current version of the software. Please note that we as a company reserve the right to remove any fix from the targeted release if it does not pass quality assurance tests. Our plans are subject to change and any action taken by you based on the above information or your reliance upon the above information is made at your own risk.

Please contact your Sales representative or the Sales group for upgrade information including upgrade eligibility to the release containing the resolution for this issue.