So maybe I am reading between the lines a little bit here, but the press release specifically states it has been announced as part of the UE 5.4 pipeline that is now the current UEFN version. I don’t think anything stops you from signing up for said license and using it in UE 5.4 projects. I also think it mentioned that it will be a sign up process as well. So I think a one year license is a one year license.
UEFN creators are eligible for a free one-year license of Marvelous Designer to create dynamic clothing using the new UE5.4 workflow, which can then be imported into UEFN projects. Stay tuned by following @FNCreate to receive updates on when sign-up for license claims will commence, beginning in late April. Licenses can be claimed within the two-month period following the opening of sign-ups.
From: Official Announcement