Thank you for your response.
The New Label takes into account the “last update or modification date” of the product.
You can disable this label via Theme Options >> WooCommerce >> Shop Elements >> Product badges.
If you want to change the functionality of this label, you can send a request to our dev team here – https://www.8theme.com/taskboard/
One standard license is valid only for 1 project. Running multiple projects on a single license is a copyright violation.