Google Workspace is an annual product, so it will remain active until the end of the current billing year. When the current year comes to an end, the account will revert to Google, which will then take over all billing for you. You will not be charged at the end of your current billing year.
At the end of the year, you have the option to renew your customer for another yearly commitment and pre-pay the service fee for the next year. If you do not wish for this to happen, simply cancel this product at any time before the year is up and it will not renew.
If you choose to cancel Google Workspace mid-year, we are able to end the relationship and the account and billing will be transferred over to Google
For more details, see the article by Google below: