Upgraded 11 into 12. Content can not be loaded

The instructions for the new licensing was never provided to me. So, I’m guessing my way through the upgrade. Cubase 12 did open once. I removed the dongle and plan to remove the eLicense application.

The second time I opened Cubase 12 I got the screen shot below.
CubaseFails

From the licensing FAQ:

After I update to Steinberg Licensing, will I still be able to run previous versions of the products I’ve bought?

Yes, provided you either have your USB-eLicenser connected to your computer, or the Soft-eLicenser containing the license for the previous version of the product is present on the computer. The new Steinberg Licensing system does not apply to versions of our products prior to the first version that uses the new system: so if you buy, say, a new license for Cubase 12 as a brand new customer, you cannot run Cubase 11 or earlier, but if you are an existing Steinberg customer who updates to Cubase 12 from Cubase 11, you can still run Cubase 11 or indeed any previous version of Cubase provided you connect your USB-eLicenser containing the license for Cubase 11.

I installed C12 and opened it. Great. That is what I expected.
I removed the dongle and opened it. I got a notice that content licenses were not found.
I read on the support site that the dongle is required, until new releases are complete. Fine. Terrible communication skills by the vendor.
I put the dongle back in. C11 still works. C12 now says no license is found. C12 closes.
I am not impressed and now my time is being wasted.

Something in this process is not professional grade!