Locally it only runs when you Enable the execution (just below the microflow).
or is it not running in the cloud? If so you have to enable this in your portal (toggle the bulbs):
You need to enable your scheduled events in the Cloud portal by opening your environment details and enabling it in the Model options tab.
And if you are using a FreeApp, scheduled events will not work (as you never know if the machine is turned on at a given point in time).
If that’s the case, you can rebuild scheduled event behavior on your own, but it will only run if the environment is up at this moment.