Cubase 12 does not recognize content from eLicenser

Cubase 12 does not recognize and load any content from e-licenser. E-licenser dongle is connected and have all my licenses stored. Any help would be appreciated.

Please run the Steinberg Download Assistant and update all of the bundled plug-ins. You can find them by clicking the icon for your version of Cubase 12.

Also make sure that the Steinberg Activation Manager is updated to the latest version (1.4.11).

Thank you for your prompt response! I appreciate you getting this information to me so quickly.
I have already followed your advice, but nothing changes. Accidentally I found solution: Cubase 12 runs correctly only without admin privileges. Still, after introducing the Steinberg Activation Manager complete system runs less stable. I find this very disappointing.