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You are correct—this is the last year for GTLM. The replacement class for 2022 will be GTD Pro—like the GTD cars, but with all pro drivers and (likely) some more power.

This change is likely a good thing, as GTD cars conform to the FIA GT3 specification and thus translate easily to the many cars and marques they run in Europe. It's little known, but Corvette Racing has to make a laundry list of changes to the cars when they take them to Le Mans every year. In 2022, they'll probably only need to change the numbers and add some decals.