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BugZero found this defect 1000 days ago.
When setting the list of OneDrive folders to be included/excluded by a job using the Set-VBOJob PowerShell cmdlet (SelectedOneDriveFolders/ExcludedOneDriveFolders command's values), the list is updated only during initial modification. Any updates to the include/exclude list after initial modification via the Set-VBOJob cmdlet will appear in the Get-VBOJob query output, however, the job will continue to use the initial list of inclusions/exclusions.
The issue is fixed in the newest Veeam Backup for Microsoft 365 5d cumulative patch KB4235.
Veeam HelpCenter Set-VBOJob https://helpcenter.veeam.com/docs/vbo365/powershell/set-vbojob.html?ver=50 Veeam HelpCenter Get-VBOJobhttps://helpcenter.veeam.com/docs/vbo365/powershell/get-vbojob.html?ver=50