Update: I just attempted to cancel my subscription and it says I’m qualified for the fallback version of PyCharm 2024.2

That being said, I’m unsure what will happen if I try to cancel after my next renewal.

After reading a bit, I suspect you’re right. It sounds like we will revert back to the community edition when you stop your subscription, instead of falling back to an earlier Pro edition.

I must have fallen into the same trap. I installed the new version a couple of months ago.