Jamie Campbell Bower's Vecna, aka Henry Creel, finally mustered up the courage and entered that cave in Stranger Things Season 5. That one, amidst his thousand memories, was the only thing keeping people safe from him. Not anymore. It was really painful for him when he was in it, and the reason is really devastating.
The actor recently told Netflix's Tudum that,
"There is a reason why Henry is so deathly afraid of that particular memory."
He expands upon it, saying,
"The reason he lost his youth, his childhood, his love, his heart."
The Hawkins crew eventually found a way to defeat Vecna, and now we will see where things will go from here. The Duffer Brothers have hinted at potential spin-offs of Stranger Things. One animated spin-off called Tales from '85.
After what happens to Vecna, it is unlikely that the character will return.
What happened in that cave?

When Henry was just a child, he heard someone screaming in that cave. He went into it and saw an injured man with a gun holding a case while lying down. He shot little Henry out of panic, who then smashed his head with a stone in defense.
It was this moment when we felt like Henry wasn't evil, but the Mind Flayer was controlling him. However, it is during the final episode of Stranger Things Season 5 that we hear him say the truth.
Will (Noah Schnapp) is again connected to his mind and tries to talk him down, but Creel says he let the Mind Flayer control him because the creature showed that the man (referring to all the humans) is "broken."
What happens to Vecna at the end of Stranger Things Season 5?
It was a fiery ending for the Mind Flayer and a bloody one for Vecna, which Joyce Byers (Winona Ryder) made all the more gory to watch. After all, why not? That vine-y thing has made his boy's life a living hell since the day the show began streaming.
While everyone is trying to fight the Mind Flayer, the real one that showed up in Stranger Things Season 5, Eleven (Millie Bobby Brown) found a way inside the giant creature, which is basically Vecna's hold. A fight ensues, and Eleven is able to push him into one of the Mind Flayer's teeth, piercing him through the chest.
With him, the Mind Flayer goes down, too. When the dust settles after the battle, the Hawkins crew gathers and saves the children. And while they are doing that, they hear Vecna suffering in pain.
Joyce has brought an axe with her, and she gives him a look that shows the agony she suffered watching his son Will suffer. With that, follows the first of many blows until his head is removed from the body. There's really a large brew of emotions in this sequence.
The last episode of Stranger Things Season 5 is over two hours long, and it is only past an hour when the main protagonist dies. There's a lot of story remaining after it.
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