information management policy in SharePoint online

I am trying to get information management policy to work in one of my site collections in my dev tenant. I have configured a contenttype with a retention policy to move documents to a document center. My documents get expire dates when I look at them with:

/sites/dev/_api/web/lists/GetByTitle('Documents')/Items(5)/FieldValuesAsText

<d:OData__x005f_dlc_x005f_ExpireDate>10/21/2022 5:18 AM</d:OData__x005f_dlc_x005f_ExpireDate>

I know you can monitor the 2 timer jobs that are needed for information management policy with some properties on the web object.

So I navigate to [https://mytenant.sharepoint.com]/sites/dev/_api/web/allproperties

<d:dlc_x005f_policyupdatelastrun>2/24/2021 11:06:44 PM</d:dlc_x005f_policyupdatelastrun>
<d:dlc_x005f_expirationlastrun>6/18/2020 11:07:48 PM</d:dlc_x005f_expirationlastrun>

As you can see the timerjobs haven’t run for quite a while. However, my documents do get expire dates. I also see these properties.

<d:dlc_x005f_policyupdatelastrunv2>10/21/2022 10:15:18 PM</d:dlc_x005f_policyupdatelastrunv2>
<d:dlc_x005f_expirationlastrunv2>10/27/2022 7:01:07 PM</d:dlc_x005f_expirationlastrunv2>

Those timerjobs seem to run weekly. But they have no effect.

Does information management policy n o longer work in SharePoint online? Or am I missing something?