Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Log into each of your Microsoft accounts on this link and check the expiry date on your Microsoft account, is it correct for your new subscription?
https://account.microsoft.com/services/
If it is, open Word on your computer, log out of Office, then restart (not shut down) your PC and log back into Office, ensuring you are logging in with the correct Microsoft account, is your subscription correctly recognised?