A Deployed SELECTserver will automatically pull any license updates as part of its nightly processing. However, in some instances it may be necessary to pull a license on demand using the Data Update service on the SELECTserver Admin page. Once the license updates have been retrieved it can take up to 4 hours for the SELECTserver Admin site / Client License Tool / Application to see any changes.
To force the updates to become available now you can restart IIS on your SELECTserver or restart the SELECTserver application pool in IIS on your SELECTserver. For more information on how to do this please see the below links.
Start or Stop an Application Pool
Tamicca SellarsMicroStation Product Manager