Can you please make sure that your iLok License Manager is up to date?
You can also try closing Pro Tools, deactivating the license using the License Manager, and then opening Pro Tools again. When Pro Tools scans your plug-ins, you should be prompted to activate the license and it should show up after that.
Thanks for your help, turns out PT was confused that I had 2 of that same plugin. Instant Phaser was functional already so I just moved the conflicting one to the unused folder.