If a license subscription has the status "Already canceled", it means that it is not going to be renewed after its expiration date. The license can be used until the expiration date.
At the expiration date, all users will be automatically dropped out from the courses they got enrolled in via the subscription in question.
If a license subscription has the status "Expired", it means this license cannot be used anymore. The users that are enrolled in courses included in the subscription are not getting dropped out of them once the subscription expires.