Secure storage cannot be used (no license exists)

What causes this issue?

The application attempted to store data in the secure storage or to read
data from the secure storage. However, this is only possible once a
license has been imported in the system.
The system is currently operating with a temporary license.

System Response

The operation was terminated.

How to fix this error?

Contact your system administrator.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.