Can the status of the previous Quote be set as lost when a quote is won for the same opportunity?

Summary:

For One opportunity multiple quote will be created and when a new quote is created and is won by the user, then user wants to change the status of previous Quote automatically as lost and there should be only one quote seen as won in the particular opportunity.

Content (please ensure you mask any confidential information):

During quote creation from opty, there will be multiple quotes created. when the latest quote is set to Contract created , then he wants the status of the other quotes in that opportunity to be quote LOST automatically

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