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Hi Navya Batchu,
Greetings. Thank you for posting the thread to our community.
I understand your concern, it seems the TODAY function cannot automatically update in SharePoint. For the situation you’ve encountered, I do understand the inconvenience caused and feel very sorry about it.
As far as I know, the TODAY function can only use as a default value, it cannot be used in a calculated column in SharePoint. In that case, I’m afraid and sorry to say it is due to design. For your reference: TODAY function - Microsoft Support.
However, I found that using Power Automate by creating a flow can be used as a workaround in SharePoint. Here is a similar thread in Power Automate community as reference for you: Solved: Automatic flow to update "Todays Date" column in SharePoint list (powerplatform.com).
Due to this situation, since we mainly focus on general and built-in feature queries in SharePoint, and this requirement is related to Power Automate. I sincerely recommend you post the question in Microsoft Power Platform Community Forum Thread. It is the specific channel handling this kind queries, members and experts are professional and will assist you further.
Appreciate for your patience and understanding.
Hope you having a nice day.
Sincerely,
Harry | Microsoft Community Moderator