The songs that were matched or uploaded will not be able to be played once Apple Music Expires, however, your music collection is still your own, and on your computer it is not removed.
Apple Music does not delete your music. It merely makes available versions of your matched music to all your devices from Apple's servers. and uploads whatever it can't match.
Your music collection will still exist on your computer unless you delete it.
iTunes Match takes all your music uploads it to iCloud and converts all matched music to 256Kbps versions for your to download. You can download these at will and will continue to play after the iTunes Match subscription is cancelled. Because its all your music only in a better format. But it must be downloaded to your computer.
https://www.apple.com/itunes/itunes-match/
What happens if I don’t resubscribe after the first year?
Will I lose any upgraded songs?No. Any songs you’ve upgraded or downloaded again are completely safe. The only thing you lose is the central storage — iCloud will no longer stream or download matched or uploaded songs to your devices.
With that said, however, none of this precludes the usage of Apple Music without using iTunes Match. Its just they work slightly differently.
That is you can use it fine without it. You will just need to keep your music library locally backed up which you should be doing any way.