In short, no. Your credential will not be deleted. You - and others who want to view your certificate - will still be able to see your credential. The main change to it's appearance will be a faded overlay, and a notification that tells viewers that the credential is currently expired. We do this so that it is immediately clear to employers, or evaluators what the status of the credential is.
Can I Still Make Changes to My Credentials
Yes, you can still make modifications like 'Add Evidence', 'Request a Name Change', or 'Change Privacy'. If you do make changes to your credential, remember that your credential will still appear with the expired notification until it is renewed.
What Can I No Longer Do?
You will no longer be able to add an expired credential to your email signature, Linkedin profile, resume, or promote that you are certified by McAfee Institute etc. You will still be able to download a PDF copy of your certificate, but it will have a stamp communicating the date on which it expired and that it has been revoked.
How Can I Renew My Credential?