you will need to create an api function and oAuth2 service that will authorize user and generate accesstoken, for your app sessions,
laravel has very good oAuth2 Provider as Passport, which helps authorization and generating access token.
https://laravel.com/docs/8.x/passport
you will create a login user service in react-native , that will send request to your web server and login Input, on your web server in Php you verify the user password , then return response and accesss tokn.
Below some oAuth libraries for php.
https://oauth.net/code/php/
An article regarding how to use oAuth2 in web application
https://developers.google.com/identity/protocols/oauth2/web-server
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