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I am working in NHS as a doctor in training. I am currently on a tier 2 general visa ( valid from 18/7/2016 to 16/8/2021). I travelled to UK on 27/07/2016. Before that I was on a tier 5 visa (13 May 2014 to 13 May 2016).
I complete my doctor in training post on 02/08/2021 and hence my job contract will expire on that date.
When will I be eligible to apply for ILR ?

I understand that I will need to produce the employment letter from employer stating that I will be in employment in the “foreseeable future”.
Will my job contract expiring on 02/08/2021 be a problem ?
Many thanks in advance for your guidance.

28 days from completing your 5 years from your Tier 2 visa issue date. If you get that letter, it doesn't matter your contract is ending but an employer very likely will not issue such letter if the contract is ending.

Thank you very much Zimba.
The employer will issue a letter with the start date and end date of the employment. Will this be good enough for the ILR application? or Does it have to mention employed in the foreseeable future?

No it has to say that they need you for the foreseeable future

Thank you again Zimba.
Is there a definition for this word “foreseeable future” (like 2 months/3months etc) ? The phrase itself is vague.

Yes there is in the English dictionary and No it is not vague. It is very clear what it means. If there is an end date for your cotract, then your employer does NOT need for the foreseeable future