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 MaxiSys tools do not require an active subscription to function. Once the update period runs out you will be able to use the tool just as before with a few exceptions:

#1 Programming BMW modules through the Elite is only possible with an active subscription. It could still be done using the J2534 pass through and a laptop if you puchase a BMW OSS J2534 subscription.

#2 Mercedes SCN coding also requires an active subscription.

#3 2018+ Chrysler/Dodge/Fiat/Jeep vehicles with a Secure Gateway Module require a connection with Autel's servers to access module information.

Other functions may be affected as well if they require access to Autel's cloud server for information.

It is recommended that you perform an backup of the tool before the subscription expires so you have a method of recovery that does not require purchasing another subscription, in the event of data corruption.
https://www.obd2.ltd/goods-148-Autel-MaxiSYS-MS906S-Vehicle-Diagnostic-Tablet.html

Also keep in mind that the renewing an update subscription also renews the tools warranty.