How long is a license valid for?

Hi there,
I bought a WordPress theme on Envato on 10.11.23 and was given a purchase code.
Could you let me know for along its license is valid for?
Can I use its code to update the theme to its newest version?
With thanks.

Lifetime

If the author has “auto-update” system yes but bear in mind that you may need to have active support period to get the updates depending the authors policy.