Others can comment as well but assuming you have made it back into Canada without being reported given if you left in 1998 you would have failed the residency obligation then would now need to be in Canada without leaving for a minimum of 2 years before applying for a new PR card. Generally advisable to wait until more than 2 years to have some buffer.
PR status never expires by the way and can only be renounced or revoked.
As said you need now to stay in Canada until you meet the residency obligation which requires you to be resident 2 years in the 5 years before any new entry to Canada or attempt in your case to renew a PR card. Failing the residency obligation can lead to being reported and PR status being revoked so important to not have any interaction with CBSA or immigration until met.