I just did a (huge) Windows 10 upgrade. Now my LE license has gone. When I try to re- license I get a Cubase lengthy error message headed 'Soft eLicenser File Permissions Repair Problem. It tells me to try starting the license software as Administrator but there is no license software installed and from what I can read on the forums there isn’t one for the LE version. Help!
Download and install the eLicenser software. Set it to run as admin. Then do the maintenance routine.
After that, if necessary, follow the reactivation instructions here:
Regards. 
I went through all the process with no luck until I noticed at some point I had received an email with a new code, I ran Cubase to enter the new code but it started anyway without entering the code - !!! Man this licensing is way more complicated than it needs to be.
However, after starting up I got the following error message:
VST Sound Library “” not found
C:\Program Files\Steinberg\Cubase LE AI Elements 9.5\VST Sound\FCP_SMT_009_Cubase.vstsound
Note the empty double quote.
I clicked the ‘locate’ button and the filename appeared but clicking on it only resulted in the same error message.