Best way to transition a quote to Expired based on Quote Expiration date

Summary:

If the quote is expired as per the date field 'Quote expiration Date', it should transition to 'Expired' step automatically

Content (please ensure you mask any confidential information):

I saw Timer is one of the suggested solution. Do we have to set it up for each step?

How frequently it should execute?

Is there any other solution for this?

Version (include the version you are using, if applicable):

24C

Code Snippet (add any code snippets that support your topic, if applicable):