Cubase Artist 12 license issue with instruments

This has been an ongoing and frustrating issue. When I open projects in Cubase Artist 12, I am unable to use Retrologue, Padshop or HALion (included in Artist 12), the tracks are greyed out and it says ‘No license found’ when I open the instruments up.
When I open a new project and create padshop or HALion instrument tracks it works fine. But then if I try to open those projects again it will often come up with license error, seemingly at random, sometimes with one instrument and sometimes with all. I cannot open saved projects without this happening, sometimes it works no problem with new projects for a day or two and then I get the same issue eventually.

I am running:
Cubase Artist 12 - v 12.0.60
Steinberg Activation Manager - v1.4.30.1000

I have tried uninstalling and reinstalling the software, all instruments, signing out and back in with Activation Manager.
I am at my wits end with this - I paid hundreds of dollars for a software that barely works 20% of the time. Any help would be appreciated.

Hi and welcome to the forum,

Make sure, all the plug-ins are up to date, please.

Hi Martin - all plugins are up to date