Licence manager

It can be done, as baxatob says.

But you need to be careful how you set it up.

You also need to contact SmartBear and have them enable it for use on a VM. By default, this is disabled.

I asked the same question a while back: https://community.smartbear.com/t5/TestComplete-General-Discussions/License-Manager-for-TestExecute/m-p/131753

In the end, I managed to secure an old physical box to hook into the network. So avoided the need to run it on a VM. I do run TC in a VM on my own PC though (node locked license). Which you also need to be careful with. More on that here: https://community.smartbear.com/t5/TestComplete-General-Discussions/Problem-using-a-virtual-machine-with-TestComeplete/m-p/99556#M19941