You have a Microsoft 365 subscription.

To allow users to apply retention labels to individual documents in Microsoft SharePoint libraries, you need to create a retention label and publish the label.

In Microsoft Purview, retention labels define how long content should be retained or deleted. You must first create a label that specifies the retention rules. After creating the label, you must publish it so that it becomes available for users in SharePoint document libraries. Once published, users can manually apply the retention label to individual documents.