This also only partially works for me. As @Gerrit_Junge mentioned, the presets are displayed correctly, they can be inserted into a slot, but no samples are available for some presets. However, many others still remain available. It can be said that “HALion 3 Sound Set 5” is partially complete. Of the 127 presets available in this set, these, which are mainly Drums&Perc Presets, will not be available for the reasons mentioned by @Gerrit_Junge:
Aggressive Machine
Ambient Kit
Bass Drum Menu
Brasil Electro Kit
Cannon Ball
Clap Factory
CR78 Vintage
Drum Factory
Electro Kit 1
Electro Kit 2
Experimental Kit
Hardstyle Kit
Hi Hat Factory
Linn Drum
New Beat Kit
Percussion Set
Rhythm Composer 1
Rhythm Composer 2
SDS 5 Vintage
Snare Factory
Synthetic Drops (Sound FX)
Synthetic Kit
Techno Kit
They can be heard partially for one or two seconds, while HALion detects that the license is not available for them. Activation Manager may also appear to report this.
23 presets out of 127 will not work. All is not lost. Remove these from the bank and this will avoid the possible Activation Manager display.