V-Ray for 3Ds Max if having license activation issue. Follow below step
Uninstall the Chaos Group license server and remove any remaining files from the following folder:C:\Program Files\Common Files\ChaosGroup
Afterward, download and install the latest Chaos license server 5.1.2 from the following page:
Go to the localhost page (localhost:30304), enable your Online/Dongle licensing and if you can see your V-Ray licenses.
If still having problem email to the support support@chaosgroup.com with your license or proof of purchase.
