set object terms after some some time of published post – functions.php

As it is in the functions file, I need to set the global $wp_taxonomies to populate the taxonomies data initially. Also, instead of using the tag_ID, I have revised with the slug. These two changes helped to work out the code. The revised code is below for reference.
Thank you all for the efforts.

function set_expired_job_categories() {
    
    global $post;
    global $wp_taxonomies;

    $current_time = time();
    $taxonomy = 'current-status';
    $job_expired_id = 'expired';
    $job_ongoing_id = 'ongoing';

    // Set our query arguments
    $args = array(
        'fields' => 'ids', // Only get post ID's to improve performance
        'post_type' => 'job', // Post type
        'post_status' => 'publish',
        'posts_per_page' => -1,
        'tax_query' => array(
            'taxonomy' => 'current-status',
            'field' => 'slug',
            'terms' => array( 'ongoing' ),
        ),
    );
    $job_expiration_query = new WP_Query( $args );

    // Check if we have posts to set categories, if not, return false
    if( $job_expiration_query->have_posts() ){
        while( $job_expiration_query->have_posts() ){
            $job_expiration_query->the_post();

            $postid = get_the_ID();
            $expire_timestamp = rwmb_meta( 'deadline_date' );

            if ( $expire_timestamp ) {
                $seconds_between = ( (int)$expire_timestamp - (int)$current_time );
                
                if ( $seconds_between >= 0 ) {
                }else {
                    wp_set_object_terms( $postid, (int)$job_expired_id, $taxonomy, true );
                    wp_remove_object_terms( $postid, (int)$job_ongoing_id, $taxonomy );
                }
            }
        }
        wp_reset_postdata();
    }
}

// hook it to low priority value, due to CPT and Taxonomies
add_action( 'set_job_categories', 'set_expired_job_categories', 20, 2 );

Reference: https://wordpress.org/support/topic/wp_set_object_terms-in-loop-is-not-work-in-taxonomy-cpt/