Solution
Disconnected License:
Disconnected Licenses are intended for company-owned machines that operate offline. A disconnected license consumes a license seat from the Volume License Server while it is in use.
Separate disconnected license files must be created for computer-based licenses and named-user licenses. If a user is assigned both license types, you must disconnect both the user and the associated computer accordingly.
The following license types are eligible for use as disconnected licenses: Concurrent, Non-concurrent, Non-debug and Non-deployment licenses. Unmanaged Concurrent Licenses cannot be disconnected.
Home Licenses:
A Home License is similar to a Disconnected License but it is exclusively used for personal (home) machines off-site and it does not consume a license on the volume license server.
A home license cannot be created in the case of concurrent or debug licenses. Only non-concurrent, non-debug, and non-deployment licenses are eligible for a Home License. See details here: Understanding NI Software Policies.