I have just had a similar problem occur regarding consolidation of backups. The external hard drive was reconnected after a couple of weeks of being disconnected. The current setting is "Keep restore points for the last 30 days" but it has kept 3 months worth. When VEEAM Endpoint Backup tried to complete a backup it failed because there was no more space left.
I have manually deleted the November files to free up disk space but I am still left with December and January's backups even though it is now February!
Any idea how to consolidate these backups automatically? I really don't like having to keep manually cleaning off the files off the hard drive.