have you tried downloading and installing directly from Microsoft site.  

I have tried the download directly from Microsoft, but I still have no luck with the managed Macs. I have tried it on a stand-alone Mac mini and it worked fine leading me to believe it's related to some Jamf policy. 

I have also deployed OneDrive via JAMF and no issue at all. 

Yes same, deploying OneDrive via JamF is not an issue. The issue is signing into OneDrive as a user on a Mac network and then seeing the error that I mentioned previously, OneDrive Files On-Demand didn't start, which does not allow the OneDrive to sign in and Sync. 

can you try logging in with a local user account and then signing in? 

I have tried as local admin but still the same error.  Tried all the tricks in this article as well, still seeing the same error. 

https://appletoolbox.com/onedrive-for-mac-not-showing-files-on-demand/

Do you have another network you can test with, even temporarily connecting to a phone or other hotspot? We would, and still do, see this occasionally with a number of our remote workers (windows users as well) and when it occurred it was almost always in the same geographic region, often resolving itself after some time. They would all have the same ISP (or service reseller) and similar ISP hardware so our best assumption was that there was something going on upstream at the ISP causing issues.

[Edit] - Please ignore, I was thinking of a different OneDrive issue.

I would suggest trying on a different network as other have mentioned. Though, odds are very likely you will need to contact Microsoft for assistance as they made the app and will know how to collect its logging and tell you what the logs mean.

We are seeing this in our environment too - removing the JAMF profile resolves the issue - so we are pretty sure it's a policy - just need to figure out which - anyone else resolve this in their environment?

I had some help from JamF support. They found that it was either our proxies policy or extensions policy causing this. Once I disabled the extensions policy it started working. I don't know if it will be the same for anyone else, but I also found that disabling the restrictions policy completely worked, but then I could not narrow down to the exact rule within that policy. 

We have had the same issue but only after installing Windows Defender, I had to remove the scope for " MDATP MDAV System Extensions" This makes OneDrive work again, but breaks Defender.

Has anyonegot anywhere with this? I'm pretty sure I just need a system extension for OneDrive to add to the MDATP MDAV System Extensions list.

I have support open with Microsoft & Jamf but aren't getting anywhere.

I believe we have found our issue, In the MDATP MDAV System Extensions config policy, I had entered the information in the "extensions" tab aswell as the "system Extensions" tab. This was picked up by another team member, I think I had been looking so long I was blind to it. We removed the settings on that tab and it has worked

I see this on a Mac that is not enrolled in anything and not managed via JAMF or any other products.