Retention is about customers who come back. Of the customers who bought in January, how many bought again in February? That share is your retention, and the rest is your churn.
Inside GA4 the same word points at something else: data retention, the period after which Google deletes your event data. That period defaults to two months.
Mixing the two up tends to surface at the worst moment. Usually in October, when you want last year's retention curve and the data is gone.