You may have realized that the license pane in PAM servers version 3.2.x and above does not show any reference to the product Azure capabilities.
This document explains why this is occurring.
Why are not the 'Azure' and 'Azure Proxy' options shown in the license pane of my PAM servers 3.2.x and above?
Any physical or virtual appliance running PAM server version 3.2.x or above.
The 3.2 license generator was modified to always have azure and azure proxy licensed, so they no longer display on the System Info or Configuration Licensing pages.
This is not a problem since these options are always licensed.
There may be circumstances after an upgrade from 3.1.1 to 3.2 where the Azure capability is lost. In this case, the work around is to re-apply the license.