This option may only be necessary if the hotel you have booked does not provide a free cancellation option. Under these conditions, the possibility of payment is not guaranteed, but given the situation, the hotel may agree to a meeting.
First, you need to open the edit booking page, more details on how you can do this are in this article.
On the page that opens, click on the "Request to cancel" button:
Here you have to click on the "Request penalty reduction" button, describe the request for cancellation without penalty and send it.
After the request has been sent, the cancellation must be made within a maximum of 48 hours, according to the message.