Azure SQL Managed Instance supports geo-replication, which allows for the replication of data across different Azure regions for disaster recovery purposes. With geo-replication, Managed Instance can create a read-only secondary replica in a different region, which can be used for disaster recovery, reporting, or read-only workloads.
The secondary replica can be automatically or manually failed over to in case of a disaster, reducing the downtime and recovery time objective. Additionally, Managed Instance allows for up to four secondary replicas, which can be in different regions, providing additional redundancy and flexibility for disaster recovery scenarios.
99.99% is the sla provided by MS (link to SLA)