Yes, The "Azure Integration" app does the same. They can help link records to files stored in the cloud, allowing users to navigate and refer to the files via the generated links, avoiding the need to store the files directly in Salesforce.
P.S. Discover Azure Integration, the easy way to upload files from any Salesforce record to Azure. Find it on AppExchange: https://appexchange.salesforce.com/appxListingDetail?listingId=c9e71bd6-5bab-4182-a461-b82d4f971183