There apepars to be an old license key in file "&1" (long text)

What causes this issue?

There appears to be an old license key in file '&V1&'. You attempted to
install this old license key on the screen for administering new,
digitially-signed license keys.

System Response

The installation of the license key is terminated.

How to fix this error?

Switch to the screen for administering old license keys ("Old Licenses"
function) and install the key there.

Error message extract from SAP system. Copyright SAP SE.