On november 17th, a new version of the AzureAD PowerShell module was released to the gallery. This can be found here: https://www.powershellgallery.com/packages/AzureAD/188.8.131.52
In the old MSOnline module there were two commands used to change assigned licenses to a user. First we had the Set-MsolUserLicense with the parameter ObjectID or UserPrincipalName could be combined with AddLicenses, RemoveLicenses and LicenseOptions. Secondly we had New-MsolLicenseOptions which would create a licenseoptions object.
In the new AzureAD module there still is a command called Set-AzureADUserLicense, but it has only two parametrs, ObjectId and AssignedLicenses. There is no command to create licenseoptions.
Now this can be a bit confusing for the unexperienced PowerShell user, but fear not, we’ll get to the bottom of this!