Liquid Clustering aims to maximize read throughput and minimize data skew. It is critical not to combine performance optimization aspect-based features with security boundaries when designing for strict regulatory compliance cases.

You can follow the pattern of Catalog per tenant or Schema per tenant as they are bound to distinct storage locations via Unity Catalog.

You can enable Liquid Clustering inside each tenant's isolated tables (under Catalog/Schema) to maintain performance & SLAs but using it as a mechanism to achieve tenant separation is a bad practice leading to compliance issues.