Be Aware you don't OWN anything you BUY on iTunes Store
When a movie I purchased disappears from iTunes and I contact support they have a ready response...
"I checked the order and it appears the movie has been modified by the content provider. Please understand that if a content provider modifies or makes changes to an item in our store, that item is unable to be re-downloaded from our system as the file is different. We do not have a way to allow you to access the new version of the movie."
You do not own anything you buy from iTunes ... the owner of the content retains control and can revoke your license to it at will. When you BUY on iTunes it's a unlimited rental with unspecified time frame.
So long as people know this because it took me a long time to learn. My ATV4K was my favorite device ever but I like to collect movies and it doesn't really work for this.
However, Vudu has an App on ATV4K and VUDU has never removed an older version of anything I have purchased from the store. They seem to be able to keep a copy of movies when they get re-issued. (Though they do specify in T&C that you are only granted access for 3 years when you purchase content)
I really prefer to keep everything Apple (have the watch, AirPods, XR, MacBook Pro, Apple Music) but I can not collect movies using iTunes and collecting movies is what I enjoy most of all.
-Brian
Apple TV 4K