SPO Information Management Policy does not support custom fields
We noticed that the SPO Information Management Policy is not taking effect on the custom fields created for list. It seems that it only supports the pre-defined fields, which are not the ones that we want. We followed the steps in “Create a policy for a list, library or folder (location-based retention policy)” in https://support.office.com/en-us/article/create-and-apply-information-management-policies-eb501fe9-2ef6-4150-945a-65a6451ee9e9 and it is not showing our desired results. Please consider supporting the custom fields.