The version of the license in the license file is older than the version the application requires.
Make sure the version (YYYY.MM0) on the INCREMENT line of the license file is greater than or equal to the version the application is requesting.
Set the MGLS_DEBUG_LOG_DIR environment variable and examine the Transaction section of the client debug log file for information about the version of the license(s) the application requires.
Compare that information with the version of the licenses in the license file.
Check Account Center for your latest license file and, if the license file is not current, contact Mentor for a support renewal quote.