"Share with anyone" with the link setting is greyed out and unable to share Externally a folder/file with your Office 365 Group's SharePoint site, Why?

"Share with anyone" with the link setting is greyed out and unable to share Externally a folder/file with your Office 365 Group's SharePoint site, Why?

0) Ensure External Sharing is properly setup on your Office 365 Tenant! Follow these two Microsoft Posts to validate - https://docs.microsoft.com/en-us/sharepoint/turn-external-sharing-on-or-off and https://docs.microsoft.com/en-us/sharepoint/change-external-sharing-site

1) Ensure you set the Office 365 Group Privacy as "Public within organization"

2) Navigate to your site collection features page - https://<yourtenantname>.sharepoint.com/sites/<yoursitename>/_layouts/15/ManageFeatures.aspx?Scope=Site

3) Ensure you deactivate this Site collection feature “Limited-access user permission lockdown mode”! 

4) Voila! You should now be able to Externally share folders and documents located inside the document libraries within site <yoursitename>