The phrase renewal overdue simply means that the member's renewal date is in the past. This is not a membership status, and depending on your renewal settings, the overdue member could still be an active member or might be a lapsed member.
A lapsed member is one who has lost membership privileges because of unpaid membership fees. A member's status may be set to automatically lapse if they have not renewed their membership within a certain period following their renewal date.
For more information, see Membership renewal settings.