IP is considered PII in certain circumstances.
Privacy laws allow you to keep the data only for as long as legally necessary and required. Google Analytics may keep this data indefinitely.
> [...] DSB issued a second decision, declaring the use of Google’s IP anonymisation a useless protection measure for data transfers between the EU and the United States.
https://noyb.eu/en/update-further-eu-dpa-orders-stop-google-...