I tried to be as specific as I could in the title, so there is little left for the question body :-0
What is the difference between these two settings? When if ever does it make sense to have one turned on and not the other?
Background: This Mac is my only Apple device, so Find My does nothing for me (in my understanding you need at least 2 linked Apple devices). And in fact I would much prefer to keep it off for privacy reasons. But
$DAYJOB has a policy asking for it to be on. So I'm looking for a way to feed the wolf but keep the goat whole :-P