If I cancel my subscription, can I renew it with the same account and not lose any of my content?

Make sure to have at least one backup as well. 

See Schofield's Second Law:

https://www.zdnet.com/article/follow-schofields-three-laws-of-computing-and-avoid-disasters/

Any files stored locally will open just fine once you reactivate your subscription.

If you have files stored in the cloud, you'd want to download those to make sure they still exist. The easiest place to do this is probably on the Creative Cloud desktop app, under "Files." You can manually back up Libraries, or manually download files that you've directly saved to the cloud from mobile apps, for example. Select all applicable files, then on the right-hand menu, you'll see three dots (just below the trashcan icon). In there is a "download" option. 

Download all your projects and assets and archive them on a storage drive. Online assets are deleted after 30 days for privacy and data security reasons and local backups are always a good idea, anyway.

Mylenium