But just in case (and to help others) Upgrading License Manager software from 10.1 through 10.4.1 to 10.5ĪrcGIS 10.1-10.4 Desktop and Engine licenses will operate with ArcGIS 10.5, and no license upgrade is required. Hopefully that brings you to the LM upgrade.
I would read thru License manager installation and startup-License Manager Guide | ArcGIS Desktop