I was in Installed Software today and noticed Gnome 47 says it’s not receiving updates anymore…
I’m assuming this is just normal end of life stuff…? 
Yup. GNOME’s versions’ life cycle is the same as Fedora’s. You have stable (GNOME 49/Fedora 43) and oldstable (GNOME 48/Fedora 42) and those are the only ones supported. When GNOME 50/Fedora 44 will be released, then G48/F42 will become EoL.
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“GNOME Application Platform version 47” will be a Flatpak runtime used by whatever Flatpak apps haven’t switched to a newer version.
Your actual installed GNOME desktop environment will still get updates (assuming you’re not on an EOL Fedora version).
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If you run
flatpak update
you will see which flatpak application is using the EOL Gnome runtime.
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