Activation Manager doesn't allow multiple Steinberg products

Anybody having issues with the Activation Manager, in regards to opening multiple Steinberg products at once? For example, if I try to open WaveLab while Cubase is open, it gives me a “License is not valid” message and closes. I have to run either or, but not at the same time. This is a fairly new problem that I am now experiencing. I tried reinstalling the Activation Manager, and this appeared to solve the problem briefly, but the issue came back.

This should definitely not be an issue.

You have reinstalled SAM. Was that the latest version from the site? Do you also have the latest ELC running? And presumably you rebooted after install and have a running internet connection?

What is the exact message you are getting when it fails? (Screenshot).
Does it happen with either Cubase / Wavelab started first?
Which version of the above? (Presuming 12 / 11 respectively)