Registering License when Using ACOMPE Standalone

I have obtained a license for the compiler that comes with Keil uVision by generating an LIC from my PSN, my issue is when I try using an older version of the arm compiler standalone. I am trying to use arm compiler for embedded 6.19 outside of Keil uVision but get the error "armclang: error: Failed to check out a license.". What I'm wondering is if it is possible to use a generated LIC as a license when using the compiler standalone. From what I've read online, in order to register a license when using the compiler standalone you need to create a system variable named ARMLMD_LICENSE_FILE and set it to the path leading to the license file or set it to a port and ip associated with a floating server. The issue is that no license file was ever created after generating my LIC, so I'm unsure as to how to use the license when using the compiler standalone. So, is it possible to use the compiler standalone with an LIC license? Or will I need to acquire either a node locked or floating license to use the compiler standalone?