Automatic Password Reset
By default, LAPS will automatically reset your passwords based on the schedule defined in Group Policy. Instead of waiting for this, you can use these settings to automatically expire passwords after a certain amount of time has passed from when they were last accessed.
There are two values to set: one for the normal accessing of passwords through the Computer Browser, and one for users who access passwords through Self Service.
Note that this will set the passwords to expire after the given amount of time from when they are accessed, but passwords are only actually reset on a Group Policy update on the computer itself.
If you use the new Windows LAPS “Post-authentication actions” group policy for managing this, then you can safely leave this disabled by setting both values to “0”.
Allow All Users to Specify an Expiry Date and Time
If enabled, when expiring a computer’s LAPS-managed password, all users will be able to specify a date and time that the password should expire (instead of immediately).
Maximum Expiry Period
Specifies how many days in the future that a password can be set to expire. This should not be more than your Group Policy setting for LAPS password age.