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About Active Directory Premium License auto renew.
Yes, Azure Active Directory Premium License will auto-renew if the payment method on the account is valid and up-to-date.
If the payment method on the account is expired or due for payment, then once the Azure AD Premium P1 license term expires, then Azure AD tenant automatically reverts back to free version if is being utilized by some other service.
You can read more from previous answer on this platform:
What happens to assigned premium/basic user licenses when the payment method for Azure Active Directory expires: https://learn.microsoft.com/en-us/answers/questions/1103591/what-happens-to-assigned-premium-basic-user-licens
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