We've shifted our focus to this for an internal project because the standard OpenAI privacy policy is VERY confusing and vague. It has some spots where language conflicts itself. Our corporate lawyer read over it and gave a hard "no" just because of the ambiguity of the policy.
We still need to review Azure OpenAI but on the surface it's looking to be the best option for Enterprise.
It sounds like your lawyer put more effort into reading it than OpenAI put into writing it. Speaking more generally I've been surprised how many companies seem to just steal any random privacy policy they can find online to tick the box without ever giving it a second thought.