I am about to retire a hackintosh, and start using a studio mac. however, i am not sure if I need to deactivate this license so I can use Hype on the new machine? and if so, where would I go to do that?
The hackintosh is getting a reset and will become a windows 3d modeling and rendering machine, kind of exciting - of course no mac OS means no hype on that machine 
You are ok to do this.
The license is per person not Machine.
Tumult Software is sold as “Per-User” licenses. A User correspond to an individual within an organization, or a single individual when personal use is intended for the Software. That individual can install and operate the Software on multiple machines, as long as they are the only one using it.
https://tumult.com/hype/legal/EULA.pdf
If Mac AppStore purchase, you should be able to restore it via the App menu.
If Tumult store you would have had an email with the license
What @MarkHunte said 
; no deactivation is necessary (nor is there a place to do it!). We try to make it easy for folks.
Congrats on the Mac Studio .