Box 1: SAS tokens -
Custom topics use either Shared Access Signature (SAS) or key authentication. Microsoft recommends SAS, but key authentication provides simple programming, and is compatible with many existing webhook publishers.
In this case we need the expiration time provided by SAS tokens.
Box 2: ValidationCode handshake -
Event Grid supports two ways of validating the subscription: ValidationCode handshake (programmatic) and ValidationURL handshake (manual).
If you control the source code for your endpoint, this method is recommended.
Incorrect Answers:
ValidationURL handshake (manual): In certain cases, you can't access the source code of the endpoint to implement the ValidationCode handshake. For example, if you use a third-party service (like Zapier or IFTTT), you can't programmatically respond with the validation code.
Reference:
https://docs.microsoft.com/en-us/azure/event-grid/security-authentication