I did exactly that around 4 months ago.

Luckily I subscribed using PayPal, so when Adobe charged me the cancellation fee I immediately contested it. My guess was that Adobe won’t bother to deal with a contested fee of around $100.

They didn’t, so PayPal refunded me the fee.

Edit: I replaced Photoshop with Pixelmator Pro, which is an excellent piece of software. Most other needs are covered by Sketch/Figma. Haven’t found a good Illustrator alternative yet, but didn’t look much.