Authorization expiration warning message is returned when launching ArcMap

Description

Despite having a new and active authorized license on the machine, launching ArcMap returns the warning message:

Warning:   
Your ArcGIS for Desktop Advanced license will time out in X days.

Cause

ArcGIS Administrator is reading old licenses in the license file instead of the latest authorized licenses. In most cases, authorizing a new license overwrites the old license. However, in some cases, the old licenses are not overwritten, and this prevents ArcGIS Administrator from reading newly authorized licenses.

Solution or Workaround

To circumvent this issue, do the following:

1. De-authorize all licenses on the machine. Refer to How To: Perform online deauthorization of licenses for ArcGIS for Desktop and ArcGIS Engine.

Note:
If deauthorization fails, clear the trusted storage for ArcGIS 10.x licensing. Refer to How To: Clear or delete trusted storage for concurrent-use and single-use licenses.

2. Authorize the recently purchased license. Refer to Authorizing your software.