A quick video of how to configure the Microsoft Authenticator App on an iPhone using only your phone when logging into a business M365 tenancy.
This video assumes that this is first time Microsoft Authenticator has run on this device and that it's the first time you've setup Microsoft 2FA for the work or school account. Because of this, the actual prompts you receive from the app might be slightly different from those in this video.
We recommend watching the video in full before attempting to setup the Microsoft Authenticator App on your iPhone.