Hello,
Thank you for your question.
Your error message shows that the V-Ray renderer needs a valid license file to render. To obtain one, you would need to go to the Chaos Group (the makers of V-Ray) and purchase a license, or if you already have a license but it's not working, ask their technical support if they can help you fix this issue for you.
Take care, and I hope they can get you up and running soon!
Jon A. Bell
Senior Technical Support Specialist, 3ds Max