Reference KB on Cpanel Backup log location: https://support.cpanel.net/hc/en-us/articles/4402165344535-Where-are-the-cPanel-Backup-logs
Reference KB on Cpanel backup on locally mounted remote filesystem: https://docs.cpanel.net/knowledge-base/backup/how-to-run-backups-on-locally-mounted-remoted-file-systems/
Reference KB on managing cpanel backup notifications: https://support.cpanel.net/hc/en-us/articles/360051342573-How-to-manage-server-notifications
Cpanel keeps all the daily account backups under the directory which is configured from the WHM Backup Configuration settings
Update 1: It is possible that while checking from the backend, the backup directory for the present day does not show up, therefore it has to be checked weather backup task is running in the background or not.
Update 2: Cpanel keeps each day's the backup log under /usr/local/cpanel/logs/cpbackup/ directory & backup transporter logs under /usr/local/cpanel/logs/cpbackup_transporter directory
Resolution:
Check the backup log for the present date to get information about the current status of the backup process
Note: Here we can see backup process has been started and in progress
We can also check the running backup process via below command