"Send typing and inking data to Microsoft to improve the recognition and suggestion platform" "Typing data" sounds like keylogging. If it's what it sounds like, that's really emphatically not okay; that would include all passwords and the contents of all emails sent. Would someone with actual knowledge care to chime in and say what data is actually sent? If it turns out that Windows 10 really is sending keystrokes to…
IE and other browsers configured to use Bing have done this for a while. I discovered it while packet sniffing for something else and seeing HTTP requests for the things I was typing in the Address Bar. I can't say I'm surprised, though saddened, to see this elsewhere in the OS.
Text correction doesn't require hitting the web, but learning about how people make typos does require some targeted data collection (typing followed by deletion and retyping, likely)