The Outlook desktop client uses the Teams or Skype for Business retention policy as the default policy that's applied to the mailbox when the properties of a folder are viewed. The expected behavior is to list the Exchange mailbox policy.
If an organization creates multiple retention policies for either Teams or Skype for Business in the Security & Compliance Center, the Outlook client by default displays either the Teams or Skype for Business policy.
The Teams or Skype for Business policy that's displayed in Outlook doesn't apply to a user's mail folders. Therefore, the Outlook client displays the incorrect policy information for the mail folder.
Microsoft is aware of this issue and will post more information in this article when the information becomes available.