There is no ability to specify custom retention policy settings for 'Delete old events and jobs' without specifying password or database name (4040518)

When attempting to Edit the job 'Delete old events and jobs' from the nightly jobs, you are unable to save the changes and receive errors. 

Open Settings tab | Nightly Jobs. Click on 'Settings' near 'Delete old events and jobs'. Click on 'Save' button

Close pop-up error message 'Database name must be specified' 

If the retention is changed, another pop-up error message appears 'A DEFAULT credential must have a password'

This has been identified as a defect, RR-100641. 

This defect will be resolved in a future release of Rapid Recovery.

WORKAROUND:

The 'events and jobs' retention can be changed from Settings | Database Connection. 

If you are unable to enable the 'Delete old events and jobs' from the Nightly Jobs pop-up. Click on Restore Defaults from the Database Connection section.

You can then make any necessary change to the 'Retention period (day)' from Settings | Database Connection