The Protexis Licensing service may have been disabled in your Windows Services manager.
CorelDRAW X4 was designed for Windows XP and Vista. Running it on Windows 10 or 11 often causes communication breakdowns between the app and its licensing components. How to Fix Psikey-2.dll Errors 1. Check the Protexis Service Psikey-2.dll Corel X4
When this file goes missing or fails to initialize, CorelDRAW usually refuses to launch, often displaying a "Product Installation Error 148" or a message stating that the DLL is missing. What is Psikey-2.dll? The Protexis Licensing service may have been disabled
If the file exists but the error persists, check your antivirus quarantine folder. If Psikey-2.dll is there, restore it and add the CorelDRAW installation folder to your "Exclusions" list. A Word of Caution: Downloading DLLs How to Fix Psikey-2
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Over time, or after a partial uninstallation, the registry paths pointing to this DLL can become broken.