Hi @Mohsin_Raza - the Contract End Date field in the automation can only accept values from a previous step of the automation - you can set up Airtable formulas or functions such a TODAY().
To get around this there’s a couple of things you can do:
Have the automation action be “run a script” and and update the Contract End Date field this way
Have another helper field in your table which shows today’s date for all records:
You can then use this value in the automation.
Side note - in your screenshot you have two update record actions. If these updates are for the same record you can combine these into a single update action (with multiple fields updated) - you don’t have to have an action per field.