We did an upgrade from version 7.5.4 to 8.6.1 (build 22). [This would also happen with version 8.6.0, or any build of 8.6.1 prior to build 23]. And now when the backup jobs attempt to run, they fail because of the License not being considered by LiteSpeed to be valid anymore.
We had been getting hourly backups right up until the upgrade was done. And then when the automatic backup ran post-upgrade, it failed.
When we run the License SQL command, EXEC xp_sqllitespeed_licenseinfo, in the query analyzer, we get xp_sqllitespeed_licenseinfo error: "failed to retrieve a valid product license".
When we look in the LiteSpeed UI itself though, it looks good. The license key shows with the green checkbox.