Interesting, let's try to remove also excalibur_settings.json file and restart Premiere Pro, you will need to enter your license again after that.
Here is where it is located:
[win]: C:\Users\__username__\AppData\Roaming\Knights of the Editing Table\excalibur_settings.json
[mac]: /Users/__username__/Library/Application Support/Knights of the Editing Table/excalibur_settings.json