In order to run without rendering watermarks (actually parts of meshes removed), a Golaem Lite license is mandatory. It needs to be installed the same way than the Golaem For Maya licenses. Please check It is also possible to use the same Environment Variables to avoid fetching of licenses or PLE Licenses

Once installed, you can check the status of your license by looking at the Unreal Engine Output log, the pop up message displayed when the plugin is loaded or in the Window / Golaem / About Menu:

If you run the Golaem for Unreal plugin without a license, it will be in PLE mode. Therefore some meshes will be missing on your characters. This is done on purpose, of course with a license, all meshes will be there.