It will not get canceled. And I wouldn't focus on the 40mph occasional wind gust. The typical wind is going to be around 20mph, which is quite a bit but nothing that you can't run in. I'm from the Midwest and 15mph winds are pretty common, so this is just a bit more breezy. And it's not a point to point course. You'll have equal amounts of head wind and tail wind. The headwind might slow you down 15 seconds per mile, but the tailwind will speed you up near 10 seconds per mile. So the net might be 5 seconds per mile slower because of the wind, or a minute in a half marathon at the most, and 2 minutes in a marathon. The key is to keep your effort consistent through the race. Don't fight into the wind just to hit a certain pace, and allow yourself to go a faster mile split when you have a tail wind.