That command works on snapd 2.58+, even Ubuntu 22.10 still ships 2.57.5 unless you've gotten extra channels enabled.
It's a very new addition after people being pissed for years. I suspect most people would be fine without hold if the auto-update would be seamless. Years ago it literally unmounted applications' storage abruptly, sessions and databases still open... Not well thought-out.
snapd 2.58 is available as an update recommended by default on Ubuntu going all the way back to 18.04. A standard "apt update && apt upgrade" will give you it. Unless you've gone out of your way to turn updates off.
