Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Hello
Yes, you can cancel yours, and then have your wife invite your Microsoft account to share her family plan.
To cancel yours, Please go to https://account.live.com
Sign into your Microsoft account. Then go to Subscriptions. Click on Manage for the subscription plan you want to cancel.
If you live in one of these countries, you can get prorated refund: https://support.microsoft.com/en-us/account-billing/countries-with-prorated-refunds-for-microsoft-subscriptions-38c81df4-10c1-f3eb-8d2f-b04f980c435f
Otherwise, your plan is still in effect until the expiration date.