PowerShell cmdlets in Exchange Online use “Remote PowerShell” as a remoting technology which is a legacy technology with security risks in today’s world. That’s why the Exchange Team originally thought about pulling the plug on Remote PowerShell by June 2023.
Since quite a few users seem to be unable to switch to the new and more secure REST-based v3 PowerShell module for Exchange, the team decided to add a way for customers to re-enable Remote PowerShell for an extended grace period (at least for tenants in the Microsoft cloud).
To cut this short: if you are still using Remote PowerShell with Exchange Online, you need to start the planning for transitioning to the REST-based v3 PowerShell module.