Here at Midstate Electric, we are migrating away from network storage drives and have adopted the MS Teams 'solution,' however we have not found a good way to manage our .mxd and .dwg files, although we might be able to configure our Pro projects to handle the cloud url's we're facing.
There needs to be a way through SharePoint and/or Teams to allow for url pointers instead of files. I'm sure we are not the first organization facing this issue. And we've see functionality and features being added during most months in the Teams and ShrePoint arenas.
Thanks for the bandwidth, Bill~