In case I'm not the only person who as a little unfamiliar with Microsoft's "Verified ID" feature, I came across a great video from Andy Malone that walks through a practical example of how it works.
Here's a high-level diagram as well:
Very interesting and compelling. I think remains to be seen if Microsoft can establish itself as a predominant force in this specific (and soon to be crowded?) area of identity governance. At surface level though, the general workflow makes a lot of sense.