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This article from InSource describes the process for installing the Aveva Production Managment license for versions 2020 U2 or later. For versions prior to 2020 U1 the AVEVA Production Management license update tool will need to be used to update the registry.
1) Navigate to the following location: "C:\Program Files\AVEVA\AVEVA Production Management"
* If this location does not exist check the parameter LicenseFilePath to determine where the license file should be located.
2) Create a new folder in this location called "License"
3) Copy the license file into this location. The license file should be named "AVEVA Production Management.PM.LIC"