Managed Backups Not Working

Hi Gurus,

Whenever I log into the Hub, I notice that has 1 error under backups. When I view it, it says I haven't backed up in over a week, but I configured cloud backups weeks ago. In the attached screenshot, the backup appeared to run correctly on Oct 31, but despite setting the schedule to weekly, no backup was created or uploaded 7 days after the Oct 31 backup.

Did I set up the managed backups incorrecly? I think I configured everything weeks ago, but this error keeps coming up. Can you take a look into it?

Thanks Kindly,