Azure Information Protection has been there for quite some time already (also previously known as Azure RMS too).
After various evolutions, it is time to see the classic Azure Information Protection client (and the associated labelling management feature in Azure portal) for retirement, scheduled for March 31, 2021.
Azure Information Protection service is not disappearing, just the classic client which is now being replaced by the Azure Information Protection Unified Labelling client, which also support other productivity application like Adobe Acrobat.
The transition to use Azure Information Protection Unified Labelling requires you to complete the below steps (which are quite easy ):
AzInfoProtection_UL_MSI_for_central_deployment.msi for centralized deployment
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Migrate Azure Information Protection Labels: https://docs.microsoft.com/en-gb/azure/information-protection/configure-policy-migrate-labels#to-migrate-azure-information-protection-labels