PTR records live in special zones such as in-addr.arpa (IPv4) and ip6.arpa (IPv6). Those zones belong to whoever owns the IP block, usually the hosting provider, not the domain owner. You set the PTR in the provider's control panel or via a ticket.
For mail servers a PTR is mandatory in practice: many receivers reject or penalise connections from IPs without one. The clean setup is forward-confirmed reverse DNS (FCrDNS): the PTR points to mail.example.com, and that name resolves back to the same IP.
Common issue: the PTR still shows the provider's generic name (e.g. static-203-0-113-10.provider.net). A HELO name that does not match the PTR also hurts deliverability.
Example
dig +short -x 203.0.113.10