Nobody owns any software apart from the guys who make it. You have a license to install it.
Bottom line if you've bought more the 12 months you get to keep the license.
If you've bought less than 12 months you don't.
When you install the product is an irrelevancy.
Sonar is also not tied to a particular PC either. But remember you only have one license.
Now when it comes to keeping the software files, I hope you are making backups with something like Acronis on an external hard drive. Cakewalk should keep the install packages for you, but I would not 100% rely on it.
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https://www.cakewalk.com/Register/FAQDoes this limit the number of times I can install my Cakewalk product?
You can uninstall and re-install the software on your computer without having to worry about re-registering or being locked out of the software.
Per the End User License Agreement, your purchase of the software grants you the nonexclusive license to have one person use the software on one personal computer at a time. If you want to use the product on more than one personal computer at a time, or if you want to network the product, you must obtain separate licenses from Cakewalk.
If you have a second computer that you use on occasion, such as a personal laptop you use when away from your desktop, you may install the product on to the additional computer. You do not need to register the product again, simply use the same registration code tied to your account that has been generated for your unique serial number. Note that per the EULA, the software must only be running on one computer at a time unless you have purchased an additional license.