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I think the answer provided is correct, particularly the Preservation lock part:
Preservation Lock locks a retention policy or retention label policy so that no one—including a global admin—can turn off the policy, delete the policy, or make it less restrictive. This configuration might be needed for regulatory requirements and can help safeguard against rogue administrators.
When a retention policy is locked:
No one can disable the policy or delete it
Locations can be added but not removed
You can extend the retention period but not decrease it
When a retention label policy is locked: