We need a way for Flow to be able to set an Office 365 Label , preferably on add or edit of document properties in document libraries. This would be something similar to the "Declare as Record" and "Undeclare as Record" SharePoint Designer 2010 actions which we can still do but that only sets the setting related to "in place records management" . Microsoft suggests to use modern Labels for retention and policies so we should have some equivalent way to set these using Modern workflow technology called Flow.
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O365 Shared mailbox- Add more Triggers for Shared ...
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Inserting variables inside Scope
AnnaChu
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Trigger for when an email is moved to a folder