There are four options with Restrict cut, copy and paste between other apps.
- Blocked: Don't allow cut, copy, and paste actions between this app and any other app.
- Policy managed apps: Allow cut, copy, and paste actions between this app and other policy-managed apps.
- Policy managed with paste in: Allow cut or copy between this app and other policy-managed apps. Allow data from any app to be pasted into this app.
- Any app: No restrictions for cut, copy, and paste to and from this app.
If you set option 1,2 or 3, the clipboard will not be shared between corporate data and personal data. If you set option 4, the clipboard will be shared between corporate data and personal data.
Refer the following article and see how app protection policies protect app data:
https://video2.skills-academy.com/en-us/mem/intune/apps/app-protection-policy#how-app-protection-policies-protect-app-data