Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
1
Open Word.
On the top menu, click the Word icon and on the drop-down menu, select 'Update Licence'.
Is that process successful in getting your new subscription recognized?
2
If not, log out of the Office apps, then log back into the Office apps to check if that resolves the problem.
3
If that does not resolve the problem, log into your Microsoft account on this link, check the expiry date listed on your subscription, is that listed correctly.
https://account.microsoft.com/services/
If not, go to the Billing section, is it indicated your payment has been processed correctly.