Hi,
It worked with below command.
alter system reclaim datavolume 'host14:30203' 120 defragment.
We were able to perform this online and roughly took few minutes to 1.30 hour depending on the size of the data file.
Maximum size we had shrunken is from 950 GB to 400 GB.
For safer side, we did this when there is less load in the system.
Note: It took more time to shrink the master node data file.
Hope this will be helpful.
Regards,
Basis team.