It actually never happens if I wait 5 seconds or longer between killing the app and relaunching, but it is happening if I only wait 2-3 seconds before relaunching it. Maybe there is a problem with emitting values from Transaction.currentEntitlements when an app is killed and relaunched right after, sometimes.

I'm having the same issue. Any updates on this? @kersten83 were you able to fix this issue, or was it simply a sandbox environment problem and in production, in fact, when the subscription expires while the app is still running, Transaction.updates is triggered and you were able to ensure that Transaction.currentEntitlements does not return the just expired subscription anymore so you could hide your content accordingly?