Hi @Ronnie Kapoor , taking from this thread:
For B2C Local accounts:
NOTE:Local accounts can only be created by sign-up or AAD Graph API. You cannot create it by clicking New users in AAD which is a B2C tenant.There is no password expiration policy for local accounts by default. Azure AD B2C's sign-up, sign-up or sign-in and password reset policies use the "strong" password strength and don't expire any passwords for local accounts in Azure AD B2C.
Creating an expiration policy in B2C doesn't necessarily enhance security so the feature is not easily available. You can set a complexity and length though. There is more information on why here.
I hope this helps! Please let me know if you have any more questions.
Best,
James