M365 Admin Usage Report and Licenses inaccuracy

When you run the M365 Admin Copilot for M365 Usage report and compare that export to the license in Azure or the License report in the M365 admin center we found discrepancies in the list.  

The usage report appears to have anyone that ever had a license.  Even though the license was remove 30+ days ago, I still show users that "last active date" is in 2023.  This gives a false narrative of who is/not using Copilot for M365.   Can anyone else please test and confirm this behavior?