Restricting child's location sharing to family members in Family Sharing

We use family sharing and screen time. I want to have my childs location but make sure that he can't share his location with others outside of the family. Is that possible? Everything I have tried in screentime doesn't work - it either allows him to share with other along with my or doesn't allow him to share his location but it turns it off for me too.

[Re-Titled by Moderator]

Original Title: Child Location Sharing