This error indicates that your perpetual license is for an earlier version of Capture One and cannot activate the newer version you have installed. Make sure that the version you are trying to activate corresponds to the version of your license key. You can check it under your Capture One account -> Plans & Services Management -> Max eligible version:
There is also a link to download the version you own.
To have access to the latest version you will need to purchase a new license.
NOTE: As an existing perpetual license holder, you might be eligible to a discount for a new purchase as per our Loyalty Program, so check out this article to learn more: