Have you checked whether your retention policy is properly working for the migrated users now?
Generally retention policy no longer works after a mailbox is moved from the on-premises environment to Exchange Online. We could check below
Get-mailbox user@Company portal .com |fl
Examine the output. If the RetentionHoldEnabled parameter is set to True, retention hold is enabled.
To disable retention hold on the mailbox. Set-Mailbox user@Company portal .com -RetentionHoldEnabled $false
Also, please also check if you have the right permission to use this cmdlet, you need to add the Mailbox Import Export role to a role group (for example, to the Organization Management role group). And we could also check if you are able to manage recoverable items in EAC.
Like the performance introduced in this official document: Recover deleted messages in a user's mailbox in Exchange Online
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