Tried to upgrade your LSWS version but failed with license error: “[ERROR]You are not authorized to use this binary, please purchase upgrades.” Tried the following from command line but it has the same result.

/usr/local/lsws/admin/misc/lsup.sh -f -v <version>

What's wrong with my license?

Actually the error message is straight forward. You are most likely having an owned license and one year free upgrade period has been expired. You will need to purchase yearly upgrade to be able to use latest version. Check here for details.