When you create a new team, it needs to be approved by an Admin or a member of an Approver Group. These Approver Groups are set up by the Admin and can be specific to certain departments or policies.
When you submit a request for a new team, the approvers receive a notification via the Teams Manager Bot. They review your request, and can make changes or leave comments if needed. Once they're satisfied, they can approve the team, allowing it to be created.
If you're curious about who specifically can approve your team, you might want to check with your IT department or Teams Manager admin, as they set up these approval processes.