WordPress and WooCommerce doesn’t have built-in functionality that lets you expire posts or products (i.e. events) automatically which can be a problem if you don’t want past events to be displayed in your calendar or on your site, but you can easily achieve this by using the free ‘Post Expirator’ plugin: https://wordpress.org/plugins/post-expirator/
This plugin has the ability to let you set a date and time when the event should expire. When the event expires you can set it up so that the status automatically changes from “published” to “draft” or “deleted”. You can also set the event to map to a specific category instead of being removed completely. This means that you can add specific CSS styles to the event and display it in a specific way on your site when it expires.