Time Machine disk full error—not deleting oldest backups
I use a 4TB disk to backup my MacBook Pro (Catalina) with Time Machine, and I've never had a problem with it. Now I'm to do the latest backup of 1.1TB am getting the error message that the disk doesn't have enough space. But Time Machine explicitly states that "the oldest backups are deleted when your disk becomes full." So why isn't it deleting my oldest backups to free up space for my newest backup?
mid-2015 MacBook Pro
MacOS Catalina
Internal SSD: APFS
SD Card: Mac OS Extended (Journaled)
USB Backup Disk: Mac OS Extended (Journaled)
MacBook Pro 15″, macOS 10.15