No, you have purchased a license to the content for use on your personal computer only per the Terms of Use and End User License Agreement.
https://www.iracing.com/terms-use-eula/
In addition, there are many factors that go into releasing new content and determining if we can grant a new version or old content for free, licensing agreements, etc. Many of these factors are outside of our control.
In addition, each agreement for content is independent and there is no universal policy regarding pricing of new content nor any discounts, refunds, or any other concessions for older content.
When and if an item is replaced, rescanned, or retired to Legacy, information regarding that particular item is typically posted in the forum and always in the release notes.