Global admins can perform what the question is asking but wouldn't use the principle of least privilege.
Data investigators can perform searches on mailboxes, SharePoint Online sites, and OneDrive for Business locations but they can't place holds on mailboxes.
The eDiscovery Manager role can place mailboxes on hold and perform searches throughout the entire Microsoft 365 tenant.
The eDiscovery Manager role is assigned in the Compliance / Purview admin center.
https://www.gitbit.org/course/ms-500/learn/Creating-and-managing-admins-through-roles-7CpqFkPZU
https://www.iorad.com/player/1801786/MS-500---ensure-that-a-user-can-perform-searches-and-place-holds-on-mailboxes-
- Open the security and compliance admin center
- Click Permissions
- Scroll down to the eDiscovery Manager role and click on it.
- Click Edit next to the eDiscovery Manager role.
- Click Choose eDiscovery Manager.
- Click Add. Add Jo Gruber the role.
- Click Done then Save then Close.