You do not need to renew a license for any of the Apple software that came bundled with the computer – such as macOS, Safari, Keynote, Numbers, or Pages.
Long ago, Apple charged one-time fees for new major versions of macOS, iWork (Keynote, Numbers, Pages), and iLife. These days, there are professional applications such as Final Cut Pro and Logic Pro for which Apple charges one-time fees. But as long as your Mac can run newer versions of macOS, you get the upgrades for free. Anyone who tells you there is a renewal fee doesn't know what they're talking about.
If you have third-party applications, some of those are sold on a "subscription" (rental) basis, and you would need to renew (or auto-renew) them if you wanted to keep them / get updates. Examples include:
- Adobe Photoshop, Lightroom, and Lightroom Classic
- Microsoft 365 (desktop version)
- Anti-virus and "security" applications
How you would renew the subscription would depend on the third-party application vendor. In some cases, you'd pay them directly for it; in others, you might make an "in-app purchase" in the App Store. (Some vendors sell/rent software both on their own Web sites and in the App Store.)
I would ask the person who is telling you that your "iMac license is expired" to tell you which application's license has expired, and to describe your options (are there other competing applications that would be suitable for you?).