Hi @Anandhan Sathyanarayanan
Per my research, there is no ootb method to achieve your requirement, this is by design.
You could only set expiry date for sharing link using “Anyone with the link”:
What's more, you could set the default expiry date in sharepoint admin center > Active sites >sharing, for example, I set 20 expiry date for a site:
Then the default expiry date is Jan 20 2022, and you could not set expiry date override Jan 20 2022:
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