In my case I had same problem with some tenants "Domains" of Azure I fix it with these value in all management_activity.
[splunk_ta_o365_management_activity://AzureActiveDirectory_DOMAIN]
content_type = Audit.AzureActiveDirectory
index = mso365
interval = 300
tenant_name = DOMAIN
disabled = 0
number_of_threads = 8 --> I passed for the default 4 to 8, you have to put multiples of 4.
request_timeout = 600
token_refresh_window = 3600
Regards.
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