Your understanding is right. You will be continuing with pro version even if you cancel the membership but will not be able to download pro products after the membership expires.
According to our TOS (https://d5creation.com/tos/
A. Limited Usage Granted
You have the right to use the D5 Creation Products on as many concurrent sites or purposes as your entitlements provide for. After your membership expires or after your cancellation of the membership, you may continue to use the products your entitlements allow for, so the products are not time-limited. Generally the membership will be continuing until you cancel that. All other services and products not specified in this Terms of Service (TOS) rather than Membership will follow another Terms of Services which will be finalize after negotiating with you (the client).
