Hi @IMK ,
Please refer to this document for the procedure to change the number of reserved versions to 80:https://support.microsoft.com/en-us/office/enable-and-configure-versioning-for-a-list-or-library-1555d642-23ee-446a-990a-bcab618c7a37
When you change the versioning settings in a SharePoint Online document library, the new settings will apply to all files in the library, including existing files that have more than 80 versions. Therefore, if you change the versioning settings to keep only 80 major versions for any file, SharePoint will automatically delete all versions beyond the 80th version for all files in the library.
Please note that this action is irreversible and you will not be able to recover the deleted versions. If you want to keep a copy of the deleted versions, you should download them before changing the versioning settings.
I hope my answer has provided you with a little help. Have a nice day!
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