ok guys, I had an answer to my question, I’m going to post it here so that anyone in my same situation can relate:
Q:
Hi there, I have a - seemingly - intricate question to ask:
I am now on Cubase Pro 10, since years. In 2020, I bought a " Cubase Pro 10.5 Update from Cubase Pro 10 ", but I never activated it. For multiple reasons, I was not able to take benefit for it until this period (been away from production, long story).
I read the article https://helpcenter.steinberg.de/hc/…8020498-Free-Grace-Period-Update-to-Cubase-12 and I was wondering: if I activate the license now, what do I obtain? I’m going to activate the license either for 10.5 or 11 or 12 or xx, but just asking: if I activate this license, will I be eligible for a free Cubase 12 upgrade?
I’m asking this because this is a question so underestimated and misunderstood during the years. And everyone has a difference and individual situation, so I thought I might ask to Steinberg directly.
Let me know for my situation, thank you!
A:
Dear Mr. …,
Thank you for reaching out to us and for your purchase!
If you activated the Cubase license now, you will receive a Cubase Pro 11 license and you will be eligible for a Cubase Pro 12 license upgrade later as well.
Best regards,
Ed Doll
Support Manager
so it seems that anyone that has an update license still not used, can have 12 as a free update later on.
Thank you @Ed_Doll for clarifying this out for us! 
