How does it work
One of the benefits of sharing a PowerPoint file in comparison with screen sharing, you can add a video to the PowerPoint file. That way you are able to show a video during a meeting with audio, which runs without any lag.
Update July 24th: Microsoft support lets me know sharing a PowerPoint file is not fully supported. Sharing a file with video has the issue you cannot control the video in the PowerPoint like you are able to do on Windows. A workaround on this is to add the video to PowerPoint and make sure t automatically starts.