Will losing access to Azure affect our Microsoft 365 data?

We currently use Microsoft 365 and sync users and groups from on-prem Active Directory using ADSync. We also have some users that were added as guests in Office 365 as well as groups/teams that were created in the tenant.

We recently received emails about the Access to Azure Active Directory subscription ending, and to back up data before August 16th. To my knowledge, we haven’t actually used AAD for anything except for maybe managing MFA for our users. Will we be at risk of losing any data once this expires in August or is there nothing to worry about? Also, will this affect access to Entra ID?