May is a subjunctive here. It expresses a wish or hope that he will soon find peace.
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Mr WordyFurther to Ivanhr's reply...
More context is needed to be sure, but it's quite likely that it refers to someone's death. Perhaps they are suffering and death will be a relief.
In archaic or pseudo-archaic language it is possible to use other verbs in this arrangement: "Go ye to the city", "Hear ye the words of this covenant", "Be he never so w
Ivanhr
Subjuntives are mostly used in fixed expressions
Be that as it may
Suffice it to say
If need be
so be it
long live the King