I think it's better not to do it automatically, but to decide by voting, and only players who could vote at the time of awarding the Hall of Fame should participate in it...
The only nuance is that you will have to play with these players not only those players who voted for the award, but also all other Heroes of Might and Magic players... so I think it's better for everyone to vote against removing someone, but only certain people should vote for awarding someone.
