Honey deteriorates in quality with age rather than improving.
Hydroxymethylfurfural rises and diastase activity falls with storage time, and both are used as regulatory quality markers precisely because the direction of change is consistent and predictable. The EU honey directive sets an HMF limit of 40 mg/kg for most honey on this basis. Volatile aroma compounds are lost steadily over the same period.
What this does not claim: This does not claim old honey is unsafe. Sealed honey stored dry remains safe indefinitely; what declines is aroma, enzyme activity and freshness.