Step 1: Select [OK] on the error message. Then go to [Settings]> [PSN]> [License Restore] and try to restore the licenses.
Step 2: Next, go to the home screen to select the game icon. Check that the product purchased is available in the game. If you have purchased a subscription item (ie pass season), go to [Settings]> [PSN]> [Account Information]> [Service List] to see if the item has been activated.
Step 3: If you can't find the item, restart the PS4 system and try Step 2 again.