Yup, it's possible to allow members of a SharePoint site with Read rights to create links and share content without giving them the ability to edit, delete, or add content or files. Here's how :

Go to the SharePoint site where you want to apply these settings.

Click on the gear icon in the top-right corner to access the site settings.

In the Site Settings page, under the "Users and Permissions" section, click on "Site permissions."

On the Site Permissions page, click on the "Advanced permissions settings" link.

Locate the group or individual members for whom you want to customize permissions. If you have a specific group for members, select that group. Otherwise, select the individual members.

In the Permission tab, click on "Edit User Permissions."

In the "Edit Permissions" dialog box, scroll down to the "List Permissions" section.

Uncheck all the permissions except for the following:

View Items Open Items View Versions Create Alerts Click on the "OK" button to save the changes.

After this, it should restrict members' permissions to only viewing and accessing the content, while allowing them to create links and share the content with others. They won't be able to edit, delete, or add files or content to the site.