License error with new permanent license on localhost installation of version 20.2

I am getting the following error when trying to start Appian after a clean install with a brand new permanent license:

2020-08-26 14:07:59,584 [engine-supervisor-content-0] ERROR com.appian.komodo.engine.EngineSupervisor - Engine component creation for content has failed.
com.appian.komodo.engine.connection.InvalidKLicenseException: content failed to start due to an invalid K license.

Environment:

OS: Windows 10 64bit

DB: MySQL 5.7

Appian: 20.2.92.0

service2727.service_manager.log_manager.log attached