I want to set the people picker field value with SharePoint online default system account using power automate.
Please guide to achieve the same.
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Power Automate/Flow operates under user accounts in AD. SharePoint 2010 workflows - which have been disabled in SharePoint online - sometimes could do this as the SharePoint/System account. SharePoint 2013 in SP online runs as the initiating user.
If you are actually working in SharePoint Online - which is what you have tagged your question as - then the only valid answer to your question is: you cannot change any person column to the System account at your will or whimsey - and for very good reason, and this fact does not appear to be obvious to you, yet.
DLP/Retention policies will cause the file to be deleted by the System account in SharePoint online. The files will appear to be deleted by this account, but in my experience, once restored they will return to the original ‘Created By’ and ‘Modified By’ values in existence as of the deletion.
If you are actually working with an on-premises version of SharePoint, the system account can be mis-used or abused in a manner similar to what you desire.
Also Microsoft employees should not be assisting you with this - He’s trying to cover something up. I mean you @Emily Du - MSFT