If it's a bicycle, it has pedals and can be driven by human power. If it doesn't have pedals, it's an electric motorcycle or in some configurations in some jurisdictions it's a scooter.
In all of the USA, Canada, the European Union, and Australia and New Zealand a vehicle that can be propelled to 40mph by a motor is not a legal bicycle on public roads under any definition. Such an illegal bicycle could be used on private property (including a private racing track), but it can't be used on public roads.
Publically OWNED roads. We own, not I own, not you own.
If you want a motor vehicle, get a motor vehicle that has passed the safety laws, that an Insurance company will cover (to protect the rest of us from you), and also get the license that demonstrates you know the public road rules, and agree that you will follow them. Then we will take you at your word and let you operate a motor vehicle on the public road with the rest of us.
We're taking a chance on you - maybe you'll show us your word actually isn't worth anything by not driving to the agreement you make, but we'll give you the benefit of the doubt if you pass the driving test AND SIGN THE LICENSE and we'll let you show us if your word is worth listening to.
And if you already have a driver's license in one of those jurisdictions (and some others) then you've already said you won't put a bicycle on a public road that can be driven to 40mph by it's motor. In that case, why are you asking?
And if it's for private use on a private track, no, I can't think of a reason.