A new feature in SharePoint Online is rolling out.
Feature
Now, the bulk approval for list items and documents is available.
Details
Admin/User can select multiple items and Approve/Reject them together. For targeted release customers, this feature was rolled out in early July and will be completed for all tenants worldwide by the end of September.
Fig1: M365-SharePoint Online: New Feature - Bulk Approvals for List and Documents
OR
Fig2: M365-SharePoint Online: New Feature - Bulk Approvals for List and Documents
Once we've clicked on the option "Approve/Reject", we will get dialog as shown in below figure 3 either as Approved/ Rejected/Pending:
Fig3: M365-SharePoint Online: New Feature - Bulk Approve/Reject dialog
Reference
https://techcommunity.microsoft.com/t5/Microsoft-SharePoint-Blog/Optimizing-business-solutions-with-SharePoint-and-Office-365-at/ba-p/623923
Thanks for reading.