This certainly seems to be a day for updates! Based on some additional feedback from my peers, I’ve updated the Get-UserHoldPolicies script to exclude legacy Exchange MRM policies by default. MRM policies, while they have RetentionPolicyTags, are technically either moving or deleting content, not preserving it.
I’ve kept the parameter and functionality, but switched it to off by default. It may be helpful to know what MRM tags have been applied to a mailbox, but since the name is a little bit misleading, I wanted to ensure that everyone is getting what they expect and not being led astray.
You can get the updated version here: http://aka.ms/UserHoldPolicies