Solution
You only need the MathScript RT Module license to develop VIs in the LabVIEW development environment. After these VIs are built into an executable, you will not need a license to run them when using the LabVIEW Runtime environment.
Note: LabVIEW MATLAB® functions are recommended as an alternative to LabVIEW MathScript Nodes for Windows computers. NI does not recommend LabVIEW MathScript Node for new designs as this structure was deprecated in LabVIEW 2023 Q3.