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Hi VDatt,
It is possible to customize the column in SharePoint online. You may use Column Formatting in the list or document library.
Then enter JSON code in the left pane.
For content about JSON code, we suggest you post in TechNet forum to get dedicated support for code related questions.
Meanwhile, I found this article might be helpful. It has a section about formatting column based on dates: Formatting items based on arbitrary dates (advanced)
Regards,
Alex