New Cloud 3S wireless/DTS Sound unbound behavior

I'm kind of confused by all the comments I see regarding DTS unbound and various HyperX headphones and I'm not sure what I'm supposed to be seeing.

With a Cloud 3S wireless, if I open DTS Sound Unbound, is it supposed to automatically pick up the device and give me a license? Or is the "lifetime activation" that they mention referring only to when using Ngenuity (legacy since the new version doesn't have DTS branding)?