The elicenser now intercepts Cubase VST5 when it looks for the parallel port dongle, and says it cannot be found. Is there a workaround?
An option would be to purchase a USB-eLicenser and use that for the Cubase VST license.
See https://www.steinberg.net/nc/en/support/knowledgebase_new/show_details/kb_show/how-to-use-cubase-vst-on-a-computer-without-printer-port.html for details how to move to a USB-eLicenser.
The eLC version Cubase LE 5 uses does not support LPT port drivers anymore and that is why you cannot use it.