As Andre said, there is no such standard feature. You can consider customizing the code to implement your needs. You can also enlist the help of a third-party partner from Microsoft who can help you with customization: Find the right app | Microsoft AppSource.
There is no cleanup job for this in the standard application. It would be a manual process, consider a customization, or try a flow with Power Automate. You can then loop all license plates and try to delete them. In case there is an on-hand quantity or incomplete inventory transactions, it will not validate for deletion and effectively be skipped.
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