This license must be a k4.lic, kc.lic, or kx.lic file. The insights.lib.embedq and insights.lib.pykx feature flags must also be enabled. You can check what feature flags you have by starting q, then running " " vs .z.l 4 - this will provide a list of the enabled feature flags for your license.
The license file must be located in any of the regular places q can find it. Typically this will be in a directory specified by the $QHOME or $QLIC environment variables.