Bad news for Veeam users because the product group has discovered a scenario that may cause potential backup data loss with Veeam Backup & Replication 9.5 Update 4 or later.
The retention logic, present into Export Backup functionality, that deletes exported backups with automatic retention option enabled, may delete the entire repository folder instead of the required backup file. The issue only happens if the required exported backup file has already been deleted manually, prior to its set retention policy expiration.
The fix is already available for download. Schedule a maintenance window promptly to implement it. Anton Gostev has declared that the team is working to re-issue Update 4b setup and ISO with this fix included soon.