No you don’t get a license with a CD, you just get an object.
It’s only copying that’s protected not existing physical copies. It’s the same with a book you get the physical book and that’s it. If the copyright expired then you can do all kinds of stuff with the book that you don’t otherwise get to do, barring a few exceptions that apply universally.
You're forgetting the performance license. With a (consumer grade) CD you get the rights for private performance of a non-commercial nature.
You don't usually get the rights to play the music for large audiences or for commercial use - those cost extra.
If you didn't get those rights then you couldn't even play the CD in the privacy of your own home, as that constitutes a performance of the work.
(Of course I kind of think there's something fundamentally strange with the idea of having to get "performance rights" for a recording that you supposedly own, but that doesn't change the law right now.)
It’s only copying that’s protected not existing physical copies. It’s the same with a book you get the physical book and that’s it. If the copyright expired then you can do all kinds of stuff with the book that you don’t otherwise get to do, barring a few exceptions that apply universally.