
Explanation:
Box 1: Azure AD Premium Plan 2
You will need an Azure AD Premium P1 license to get access to the Microsoft Office 365 conditional access policy feature.
However, need Azure AD Premium Plan 2 to sign-in risk.
Box 2: Azure AD Identity Protection
A sign-in risk represents the probability that a given authentication request isn't authorized by the identity owner. Organizations with Azure AD Premium P2 licenses can create Conditional Access policies incorporating Azure AD Identity Protection sign-in risk detections.
Reference:
https://docs.microsoft.com/en-us/azure/active-directory/conditional-access/howto-conditional- access-policy-risk
https://blog.mydock365.com/what-is-conditional-access-in-microsoft-365