This is a global change and will replace the picklist value for all existing records, including records in the Recycle Bin. This will update the Modified By date and time for all records where the value was replaced.
Your replace job is queued. To check the job’s status, from Setup, enter Background Jobs in the Quick Find box, then select Background Jobs. You receive an email when the job is complete.
Please review below link for more information on 'Replace Picklist Values'.
This is a global change and will replace the picklist value for all existing records, including records in the Recycle Bin. This will update the Modified By date and time for all records where the value was replaced.
Your replace job is queued. To check the job’s status, from Setup, enter Background Jobs in the Quick Find box, then select Background Jobs. You receive an email when the job is complete.
Please review below link for more information on 'Replace Picklist Values'.
https://help.salesforce.com/articleView?id=customize_replace.htm&type=5
Hope above information was helpful.
Please mark as Best Answer so that it can help others in the future.
Thanks,
Vinay Kumar