V5 has a completely new licensing system compared to V4. In the past, we had customers that had setups like 3 different computers or multiple operating systems on the same machine. We didn't have a great license that worked in those scenarios. With V5, we now offer a floating license where you basically purchase 1 license and then you can use it on as many machines as you want (you can just only be using it simultaneously on 1 machine at a time). This gives far more flexibility than the old system. We also added offline licenses for people that don't have regular internet access.
If you buy a standard V5 licenses instead of a floating license, then that license has to be installed on a single computer. Just as with V4 you can move it to a new computer at any time by deactivating the old installation and installing on the new one.
All that being said, I also want to point out that buying V5 doesn't change anything with your prior V4 licenses. If you are happily using V4 on your prior computers, you can keep doing that. There's no change. V5 just gives you access to new features on top of what you already have.
If you have any other questions about your license, feel free to email our licensing team and they can help further:
https://www.simplify3d.com/contact-us/