Make the edd_restrict shortcode check if a license is expired before displaying content.
<?php
/**
 * Plugin Name: Easy Digital Downloads - Content Restriction Compatibility for Software Licensing
 * Description: Make the edd_restrict shortcode check if a license is expired before displaying content.
 * Author: Phil Johnston
 * Author URI: https://easydigitaldownloads.com/
 * Version: 1.0
 */

/**
 * Check if the current user has a valid license for the $download_id passed-in.
 *
 * @param  array ( 'download' => Download/Item ID (post_id), 'price_id' => Price ID )
 * @return bool true/false
 */
function edd_sl_current_user_has_valid_license_for( $download_ids ){
	
	// Get the current user ID
	$current_user_id = get_current_user_id();
	
	// Set default for license validity to false
	$license_valid_for_download = false;
	
	// Get the current user's purchases
	$user_purchases = edd_get_users_purchases( $current_user_id );
	
	if( $user_purchases ) {
	
		foreach ( $user_purchases as $user_purchase ) {
	
			setup_postdata( $user_purchase );
	
			// Get all the licenses for all the user's purchases
			$sl = edd_software_licensing();
						
			$licenses = $sl->get_licenses_of_purchase( $user_purchase->ID );
			
			if ( is_array( $licenses ) ){
				foreach ( $licenses as $license_post ) {
					
					$license_key = get_post_meta( $license_post->ID, '_edd_sl_key', true );
					
					foreach( $download_ids as $download_id ){
						if ( $sl->is_download_id_valid_for_license( $download_id['download'], $license_key ) ){
							
							$license_status = $sl->get_license_status( $license_post->ID );
							
							if ( $license_status != 'expired' && $license_post->post_status == 'publish' ){
								
								$license_valid_for_download = true;
								break;
								
							}
							
						}
					}
					
				}
			}
			wp_reset_postdata();
		}
	}
	
	return $license_valid_for_download;
}

/**
 * Filter the edd_restrict shortcode to check if the user has a valid license in EDD Software Licensing.
 *
 * @param       string $content The content of the shortcode
 * @param  		array ( 'download' => Download/Item ID (post_id), 'price_id' => Price ID )
 * @param       array $atts The attributes to pass to the shortcode
 * @return bool true/false
 */
function edd_sl_cr_restrict_shortcode_content( $content, $restricted_to, $atts ){
	
	if ( edd_sl_current_user_has_valid_license_for( $restricted_to ) ){
		return $content; 
	}
	else{
		return $atts['message'];
	}
		
}
add_filter( 'edd_cr_restrict_shortcode_content', 'edd_sl_cr_restrict_shortcode_content', 10, 3 );
To implement this snippet on your site, create a brand new, empty WordPress plugin and paste the above code inside.