This article in the excellent Head for Points website may give you the answer you seek
https://www.headforpoints.com/2023/0...yteam-flights/
It says near the end;
Can you cancel Virgin Points redemptions on SkyTeam partners?
Yes. It is the same rule as for bookings on Virgin Atlantic itself – £30 per person cancellation fee with all points and taxes refunded.
I’m not sure if the ‘no fee’ 24 hour cooling off period applies to Virgin Points redemptions on SkyTeam or not.