Account Transferability

The license transfer does not transfer anything to another account. Nothing can be transferred between accounts. The transfer tool transfers licenses between consoles.

Purple - A license transfer would not be possible because the account is banned and license transfers do not transfer licenses between accounts. There is no way to transfer content between accounts.

License transfers will only transfer licenses between console. It doesn't transfer licenses between accounts. There is no way to transfer content between accounts.

License transfers will only transfer the licenses for the account you're signed into. So as long as he has had his own account and the games were purchased on his account, it will only transfer his licenses. If he was using your account, it would not be
possible to transfer only those licenses. A license transfer does not let you pick and choose which licenses to transfer.

You'll need to create a third Microsoft Account, transfer THIS account to the third MSA, then transfer your account to the desired MSA. You can try the transfer at Settings -> Account -> Account Security -> Change Microsoft Account.