There are a large number of ways to provide custom permissions in SharePoint Online e.g. so that a sub-site of your site visitors have access to restricted materials.
iSolutions general advice is that you should endeavour to manage permissions either by having different sites e.g. if you have a lot of materials or by having different document libraries e.g. where there are fewer files needing restriction. You can restrict access at folder and individual file level but this is not recommended.
How to restrict a library with different permissions
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