New Computer has lifetime 365

If your new computer came with a lifetime version of Microsoft 365 Office, you should not need to pay for a subscription for that software. However, if you have existing yearly subscriptions, those will continue until you choose to cancel them. The lifetime version typically means you have access to the software indefinitely without additional payments, but you should verify the specifics of your license agreement to ensure you understand what is included.

If you are using the lifetime version, you may want to consider whether you still need the yearly subscriptions, as they may provide additional features or services that the lifetime version does not include.

References:

• Why am I getting billed for Microsoft 365 after I activate the benefit?
• Understand subscriptions and licenses in Microsoft 365 for business

If your computer comes with a copy of a perpetual license for Office, it does have some overlaps with your annual subscription, but not all.

So, it will really depend on what you need -

If you are using apps like Word, Excel, Powerpoint for example, then the perpetual licence Office will suffice.

If you need email client app like Classic Outlook, and/or need the 1TB storage of OneDrive, then the perpetual copy doesn't come with it, and you will still need your subscription. Also, if you need to use it on more than one device, you need the subscription as well.

You can go to this page: https://www.microsoft.com/en-us/microsoft-365/buy/compare-all-microsoft-365-products-b

Scroll down a bit to compare the features.