Most likely a bulk installation was made, which means the setup.exe was not executed to install the TriCore tools but an installed version of the tools was copied to the PC. In this situation, the registry entry for our tools is missing. The graphical version of the licborrow program needs this entry to locate the tools.
Use the command-line version of the licborrow program instead (licborrowcmd.exe from the TLM's download section) to borrow the license. For example, to borrow a TriCore v6.2r2 license for 7 days:
licborrowcmd -d7 SW160800 v6.2r2