Azure Media Services will allow you to encrypt the content using Widevine supported encryption formats (CENC), and deliver the content as HLS and DASH.
You can also configure the content key policy to deliver a specific Widevine license template to the customer. In that policy, you can set the policy for how long they can have the content, renewal and the renewal URL.
See details here - https://learn.microsoft.com/en-us/azure/media-services/latest/widevine-license-template-overview
For specific details on how to use Widevine license templates and the renewal URL process, I would direct you to the Google Widevine documentation.