Hello Eran BR,
Thanks for your question.
If a tenant remains inactive for over 200 days past the billing cycle, Microsoft initiates a process to remove inactive tenants. The tenant is deleted after 20 days of being inaccessible due to inactivity and it isn't recoverable.
https://learn.microsoft.com/en-us/entra/fundamentals/inaccessible-tenant.
If it is beyond 20 days, you do not have the option to recreate.
I would recommend you reach out to support here:
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Regards,
Abiola