Time Machine only saving previous 24 hours
I have a new iMac 24 running Ventura 13.3.1. My old backup disk was old so I have replaced it with a new WD Passport for Mac (5TB). I've formatted it to use APFS (rightly or wrongly). There's very little on the new Mac yet so Time Machine is only occupying around 300GB out of the large total available. For some reason it will only back up 'yesterday' and 'today'. There's nothing shown before that, so presumably it is deleting older backups as it goes along.
It's clearly not fit for purpose at the moment. Can anyone suggest a fix for this please? I'm in no way computer savvy so I would appreciate any help in fairly simple terms. Thank You. Andy
iMac 24″, macOS 13.3