Update 'payment pending' order status after time limit reached

Hi,

I would like to remove the function which cancels pending payment orders after the time limit reached, but I would like it to cancel the order, (i.e. release held stock), and then change/udpdate order status to Updaid EFT.

I tried this but it does not work:

add_filter( 'wc_order_statuses', 'wpex_wc_add_order_statuses' );

	if ( $unpaid_orders ) {
		foreach ( $unpaid_orders as $unpaid_order ) {
			$order = wc_get_order( $unpaid_order );
			if ( apply_filters( 'woocommerce_cancel_unpaid_order', 'checkout' === get_post_meta( $unpaid_order, '_created_via', true ), $order ) ) {
				$order->update_status( 'wc-unpaideft', __( 'Unpaid EFT order - time limit reached.', 'woocommerce' ) );
			}
		}
	}

Any ideas? Thanks! ??

https://www.ads-software.com/plugins/woocommerce/