This is already (effectively) the case. All satellites launched from the US need to have a plan to safely deorbit within 25 years after they’re no longer in use. I believe this was recently lowered to 5 years. For many satellites this just means natural decay and burn up on reentry. Satellite owners need to submit an orbital debris analysis as well to prove they won’t hit anything. Other countries and the EU have similar (often more strict) regulations.