Cubase 4.0 Upgrade procedure?

Hi Steinberg Community,

Didn’t use Cubase for several years, but now want to reactive the license and go for an upgrade.
I have Cubase Studio 4 with USB-eLicense. Both are listed under My Prroducts.

What are the correct steps to install and activate the latest Cubase Elements 10.5 on a different computer?
And can I use the USB-eLicenser from Cubase Studio 4 to opt for the upgrade to Cubase Elements 10.5?

I see there is an option Reactivate on the MyP roducts page, but when I do that I get “There is no Soft-eLicenser to reactivate.”.
So I might be missing some steps or trying to do something that isn’t possible?

Please advise on the best way forward.