While most Lithium batteries start needing to be replaced between 3 - 5 years, some may fail sooner if they develop a hardware issue.
Unfortunately the Battery Health percentage (aka Maximum Capacity) value does not actually indicate battery health, but the battery's current Full Charge Capacity (FCC) to its original Design Capacity. Yes this value is somewhat related to battery health, but it is not the final say.
Also check the Battery Condition reported by macOS. It will either be "Normal" (sometimes no condition is listed if Option-clicking the battery icon on the menubar), or it will be "Service Recommended". If the latter and the battery is not behaving to your expectations, then it means it is time to have the battery replaced.
Unfortunately even the Battery Condition is not accurate since some battery failures may not trigger the "Service Recommended" condition. You can try running the Apple Diagnostics to see if any hardware issues are detected, but the diagnostic may not identify some battery hardware failures. However, that is all Apple provides to users.
FYI, the best time to check the battery condition or run the diagnostics is when the battery charge level is at the level where you start to experience problems, but sometimes the act of connecting the power adapter can conceal the failure from both macOS & the diagnostics.
You can have Apple or an Apple Authorized Service Provider examine the laptop and to run their Apple service diagnostics. Maybe it will identify an issue (doubtful since even the service diagnostics are not very good these days). It is hard to say if an Apple Store or an AASP is better here. The Apple Store likely has more leeway on authorizing battery replacements than an AASP which has no choice but to follow Apple's strict policies on when they can replace the battery.
