AZ 500 Exam focuses on the Azure platform's security features. It assesses candidates' ability to manage identity and access, implement platform protection, manage security operations, and secure data and applications in Azure. On the other hand, MS 500 is the exam focused on the security aspects of Microsoft 365. This exam assesses a candidate's ability to manage identity and access Microsoft 365, as well as implement and manage threat, information security, and governance and compliance features.