If you set retention to 1d, but when you load PMM UI, you can see >2d, then that’s an issue to resolve.
I set retention to 1d via environment variable and I can see the retention 1d in the PMM UI but the data was still there. 
After some time, the quote of disk has been exceeded, so the victoriametrics could not write more data on disk so that it was get restarted. Please see below logs.
2023-08-23T21:44:40.116Z panic /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/filestream/filestream.go:221 FATAL: cannot sync file "/srv/victoriametrics/data/data/small/2023_08/tmp/1777194C2D1BBFFF/index.bin": &{%!d(string=sync) %!d(string=/srv/victoriametrics/data/data/small/2023_08/tmp/1777194C2D1BBFFF/index.bin) 28}
panic: FATAL: cannot sync file "/srv/victoriametrics/data/data/small/2023_08/tmp/1777194C2D1BBFFF/index.bin": &{%!d(string=sync) %!d(string=/srv/victoriametrics/data/data/small/2023_08/tmp/1777194C2D1BBFFF/index.bin) 28}
goroutine 878759613 [running]:
github.com/VictoriaMetrics/VictoriaMetrics/lib/logger.logMessage(0xd983a6, 0x5, 0xc0001a9260, 0xd5, 0x4)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/logger.go:270 +0xc69
github.com/VictoriaMetrics/VictoriaMetrics/lib/logger.logLevelSkipframes(0x1, 0xd983a6, 0x5, 0xdaafa3, 0x1e, 0xc0092d9830, 0x2, 0x2)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/logger.go:138 +0xd1
github.com/VictoriaMetrics/VictoriaMetrics/lib/logger.logLevel(...)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/logger.go:130
github.com/VictoriaMetrics/VictoriaMetrics/lib/logger.Panicf(...)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/logger.go:126
github.com/VictoriaMetrics/VictoriaMetrics/lib/filestream.(*Writer).MustClose(0xc02b14c1e0)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/filestream/filestream.go:221 +0x405
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*blockStreamWriter).MustClose(0xc01a4c8b40)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/block_stream_writer.go:174 +0x1b0
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.mergeBlockStreams(0xc0092d9a80, 0xc01a4c8b40, 0xc02b14c0f0, 0x5, 0x5, 0x0, 0xc000992a20, 0x18a1f34f982, 0xc01dbf2f28, 0xc01dbf2f38, ...)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/merge.go:27 +0x18a
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).mergeParts(0xc01dbf2f00, 0xc01cdaa180, 0x5, 0x8, 0x0, 0x0, 0x0)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:1170 +0x811
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).mergePartsOptimal(0xc01dbf2f00, 0xc01cdaa180, 0x5, 0x8, 0x0, 0x0, 0x0)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:856 +0x225
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).flushInmemoryParts(0xc01dbf2f00, 0xc01cdaa180, 0x5, 0x8, 0x0, 0xc01cdaa101, 0x0, 0x1, 0x0, 0x0)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:830 +0x20b
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).inmemoryPartsFlusher(0xc01dbf2f00)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:802 +0x13f
github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).startInmemoryPartsFlusher.func1(0xc01dbf2f00)
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:787 +0x2b
created by github.com/VictoriaMetrics/VictoriaMetrics/lib/storage.(*partition).startInmemoryPartsFlusher
/home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:786 +0x5f
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:12 build version: victoria-metrics-20210615-100652-pmm-6401-v1.60.0
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:13 command line flags
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:20 flag "bigMergeConcurrency" = "0"
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:20 flag "csvTrimTimestamp" = "1ms"
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:20 flag "dedup.minScrapeInterval" = "0s"
2023-08-23T21:44:40.209Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/logger/flag.go:20 flag "deleteAuthKey" = "secret"
....
After that, the old data was purged during restarting of victoriametrics. Please see below the logs.
2023-08-23T21:45:41.481Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:249 partition "2023_07" has been dropped
....
2023-08-23T21:45:42.615Z info /home/builder/rpm/BUILD/VictoriaMetrics-pmm-6401-v1.60.0/lib/storage/partition.go:249 partition "2023_06" has been dropped
As you can see that there were data for 2 months. After the purge, I could see that data size of victoriametrics was shrunk.
Before: 13G victoriametrics
After: 2.4G victoriametrics