Do I understand correctly that a device is being sold here whose latest firmware (V2.00(ABDM.4)C0) will soon be 5 years old? (Release Date May 15, 2018). What about security? Is the device no longer supported?

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Almost, according to Zyxel itself the latest firmware is V2.00(ABDM.5)C0 and was released in March 2022. ( https://www.zyxel.com/global/en/support/download?model=wap3205-v3 )

However, according to Zyxel, this AP is already end-of-life: https://www.zyxelguard.com/Zyxel-EOL.asp (Ctrl+F and search for "WAP3205 v3").

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Question about Zyxel WAP3205 v3

Do I understand correctly that a device is being sold here whose latest firmware (V2.00(ABDM.4)C0) will soon be 5 years old? (Release Date May 15, 2018). What about security? Is the device no longer supported?