Symptoms

In Microsoft Exchange Server 2019 or Exchange Server 2016, you use the New-MailboxSearch cmdlet to create an In-Place eDiscovery search or an In-Place Hold by setting the InPlaceHoldEnabled parameter to true. All the current property values on the msExchUserHoldPolicies attribute are unexpectedly removed, and then added back if you add a new mailbox search against the same source mailbox.

Resolution

To fix this issue, install one of the following updates:

For Exchange Server 2019, install the Cumulative Update 5 for Exchange Server 2019 or a later cumulative update for Exchange Server 2019.​For Exchange Server 2016, install the Cumulative Update 16 for Exchange Server 2016 or a later cumulative update for Exchange Server 2016.

References

Learn about the  terminology that Microsoft uses to describe software updates.

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