Limitations in Microsoft Synapse Managed Private Endpoints

Hi  asankab 
Thanks for using Fabric Community.
Yes, there are some limitations to be aware of when using managed private endpoints in Synapse Analytics:

1) Requirement for Managed Virtual Network: Managed private endpoints only work with Synapse workspaces deployed in a managed virtual network. You cannot use them with workspaces in your own virtual network.

2) Static IP Restriction: Currently, you cannot configure static IP addresses for managed private endpoints. This can be a limitation if your security policies require them.

3) Managed private endpoints are mapped to a specific resource in Azure and not the entire service.
4) Managed private endpoints are only supported in Azure Synapse workspaces with a Managed workspace Virtual Network.

For more information you can refer to these links:
Managed private endpoints - Azure Synapse Analytics | Microsoft Learn
Managed virtual network - Azure Synapse Analytics | Microsoft Learn
Azure Private Link frequently asked questions (FAQ) | Microsoft Learn

There currently isn't public API documentation available for automating private endpoint request acceptance/rejection workflows for ADLS Gen2 storage accounts.
As for the REST API endpoints for automating the Private Endpoint Request Accept/Reject scenario for an ADLSGen2 storage account, you can use the Azure Data Lake Storage Gen2 REST APIs to interact with Azure Blob Storage through a file system interface.
Azure Data Lake Storage Gen2 REST API reference - Azure Storage | Microsoft Learn

Hope this helps. Please let me know if you have any further questions.