NOTE: this feature is still under development and might not function properly.
This connection type is specifically designed for the stand-alone version of Ultimate Forms, not for the SharePoint app, although it can still work in the app version. You can establish connections with various SharePoint lists and document libraries, given site URL and list name. Note that you will be requested to grant access to Ultimate Forms to your tenant. You must be an Global Administrator to grant this permission.
If you are using the app version of Ultimate Forms, there is no need to use this connection type (unless you're planning to connect to SharePoint sites outside of your tenant).