ZPM in licensed state is not hindered by the license state of ZCM. The ZPM needs to be active and it should have a valid ZPM license to continue in this state.
In a licensed ZPM all the functions work as mentioned below:
ZPM functionality: This will allow you to perform all the security, patch, and configuration management tasks.
Patches: Patches of all the platforms and vendors will be supported for scanning and downloading.
Scan result: The Vulnerability Detection is assigned to run on each device on a daily basis to scan for known patches. This task returns the results that are displayed on the Patches page. The results are presented in a table of patch status.