Hi Michael,
1) An RPI is entitled to ask for the railcard expiring on the date recorded against the discount. If that is the railcard then it would be advisable to have it to be sure of no problems.
2) Some staff will expect the gold record card to set the discount, but they can easily see the travelcard and it’s expiry date on the Oyster card. If you want a guaranteed hassle free experience then have the record card with you.
If you don’t want to have to carry the railcard with you, you can ask them to update the expiry date to be the annual travelcard.