Hi Sumaira Noor,
My option is the same with Ravi. Since D365 has used new PowerPlateform Admin Center. So I update the latest D365 System backups& Manual backups operations as following:
Docs: Go to Power Platform Admin center > Environments > [select an environment] > Backups > Create
System Backups:[View:https://docs.microsoft.com/en-us/power-platform/admin/backup-restore-environments:750:50]
Manual Backups: [View:https://docs.microsoft.com/en-us/power-platform/admin/backup-restore-environments#manual-backups:750:50]
(Note: Manual backups do not count against your storage limits)
You could recover it by Environments > [select an environment] > Backups > Restore or manage(Note: Only for Sandbox Environement. You need to transfor to Sandbox if it's Prod Environemnt.)
[View:https://docs.microsoft.com/en-us/power-platform/admin/backup-restore-environments#restore-a-manual-backup:750:50]
Regards
Johnny