Does the No Licenses Found appear in Steinberg Activation Manager have any impact on using Cubase?

In the Steinberg Download Assistant, open Cubase Elements 10.5.20- Full, open Cubase Elements 10.5.20- Full\Cubase_LE_AI_Elements_10.5.20_Installer_win\Cubase LE AI Elements 10.5\Additional Content\Installer In this path, run the top-side Cubase_LE_AI_Elements_10.5 and select repair, and a moment later, the Cubase LE AI Elements 10.5 icon appeared on the desktop, and when I pressed that icon, Cubase LE AI Elements 10.5 ran normally
But when I run Steinberg Activation Manager, I still get the No Licenses Found, is that okay with using Cubase Elements 10.5?

Welcome to the Forum

Cubase 10.5 was using the eLicenser, not the Activation Manager. This is used beginning wit Cubase 12 and later.

To see your license you need to start the eLicenser Control Center.

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Thank you