Time Machine could not back up the disk
Im getting the following error when Time Machine tries to backup:
Time Machine could not back up the disk “MacOS — Data” because it is nearly full.
Delete some files on this disk and try again.
However there's 300GB storage left and I thought it deletes the oldest backups when the disk becomes full - at least that's what it says in System Preferences. So I'm confused why I see this message.
iMac 27″ 5K, macOS 11.2