FWIW, none of the existing Magic Key passes at any level are ready yet for renewal. All DLR Annual Passes were cancelled during Covid shutdown. The question of renewal won't really be tested until August of this year.
For the record, I had an active DLR Annual Pass when Covid hit. DLR cancelled my pass when they cancelled all remaining passes. I purchased my Magic Key day 1 of sales and activated in early Sept 2021.
This was for a pass bought using a military ticket to upgrade, hence the May expiration, so not exactly a normal situation right now. Especially with the current lawsuit. People should not start making assumptions based on this report.
The report is based on one guest services reply from a cast member. I'd hold off on the panic over this. As stated already, none are available for renewal because nobody has had one for a year yet.
In the case of the individual with one expiring on 5/1, I'd ask in person at guest services at the park. They're like gate agents at the airport - they can do the things that the ticket agents can't.