I was wondering if this issue is related only to SW-QUESTA, the free license for Intel Questasim Altera FPGA Starter Edition so tried generating the Quartus Prime 90 day evaluation license EVALUATION-LIC instead, which I think includes a license for Intel Questasim Altera FPGA Edition.
That license file generated mostly correct, feature lines for various Quartus components looked OK apart from the feature line for Questasim, which had the same 300 error as others have reported.
I have to specify a floating license to support remote access to the FPGA developer workstation; I don't know if this issue occurs if a node locked license is generated instead.