Understanding Retention Policies with multiple retention tags.

As the title says, a very simple question.

Defining the scenario: Department has an archive enabled user mailbox that is about 10 years old. With the local archive practically holding junk since the org physically prints out and pins emails, the IT team decided to keep only emails that date back up to 5 years. They want it done using ECP Retention policies but they also want to keep the current 2 week to archive policy.

Environment: OnPremises Exchange Server 2016 CU23

Method used:
Created a retention tag that will delete emails that are older than 1825 days from a default folder assuming the "in-place <user> archive" is a default type.

Created a retention policy that contains the 2 week to archive retention tag and the 1825 days to delete retention tag.

Applied it to the user mailbox and ran MFA in the exchange server management shell.

Result: The 2 weeks policy works but the archive hasn't changed at all.

Now my question is, is it feasible to delete emails from an in-place archive using a retention policy?

If not, can the community share a few possible resolutions that can be used to automate the process and require a script that need be run every other time for individual users?