migration – Azure Lifecycle Management Rule
This could happen if you select “Append blobs” in blob types (1st step) because access tier is only available for Block blobs.
Furthermore, please ensure that the redundancy type for your storage account is one of the following values: LRS, GRS, or RA-GRS. Archive tier is not supported for ZRS, GZRS, or RA-GZRS.
Please make sure that these conditions are met. To learn more, please see this link: learn.microsoft.com/en-us/azure/storage/blobs/access-tiers-overview?tabs=azure-portal
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