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License WILL NOT be transferred
You must refund the game before the timeperiod expires
Your best bet is to either get a refund and purchase the game again or set up family sharing between the accounts.
https://help.steampowered.com/en/
Keep in mind that if the game was bought with wallet funds, the funds will be refunded to that account. Howecer if it was bought using another payment method, then you can refund the money to that. Essentially neither wallet funds or game licences can be transferred. As Satoru mentioned, if a game is refunded it won't be uninstalled but you simply won't be able to play it.
On the request refund page it says this:
This refund will remove the following products from your Steam Library:
If I do this, does it mean I won't have to download it again, if I purchase it from my account? Thanks for your help.