Dear Sayeed,
As an Independent Advisor and community user, I'll help you with your question.
At this point is not possible to change status from Edit to Read directly with the "Approval" app in Microsoft Teams, basically it's a limitation of the app.
By other hand, there is a another powerful app called "Power Automate" formerly "Microsoft Flow", there you can create your own Flow with approval process with connector between all Microsoft apps and external apps, there are a lot of templates, take a look at below link for further information:
https://flow.microsoft.com/en-us/galleries/publ...
Find out in the Microsoft templates, probably one will useful for your purpose:
https://flow.microsoft.com/en-us/templates/?q=A...
Regards,
Renzo.