Hi
This error means your CodeWarrior doesn't fine the correct license file or license file is expired . make sure your license is valid. If you are not sure, create a private case with your license.dat file to license team.
If your license file is correct,
Please check if the LM_LICENSE_FILE path includes the license.dat of Codewarrior, please suppress following environment variable: LM_LICENSE_FILE in the right path. The environment variable can be setting by click "start", "settings", "control panel", "system", "Advanced", "environment variable". (See attached screenshot) the LM_LICENSE_FILE should be something like: {your CW install}\license.dat

the restart CodeWarrior and try again.
If problem persists, reinstall your CodeWarrior to another user defined path, for example, D:\CW5_2
and install your license file to install folder, make sure LM_LICENSE_FILE setting is correct.
Have a nice day,
Jun Zhang