The Evaluation License keeps showing up in the licenses tab in vSphere Client despite being removed.
Additionally the banner in the vSphere client shows up warning that "There are expired or expiring licenses in your inventory" as seen in the screenshot below and the evaluation license appears to be assigned to several VMs:
There is also the presence of SRM in the environment (also fully licensed).
Removing the solution (under the assets tab) that has the evaluation license allows you to remove the evaluation license but it re-appears in the UI within minutes of removal. This solution that's licensed with the evaluation license is the SRM product, and that can be confirmed by checking the MOB as specified in the following KB article:
Removing License in vCenter if you are not able to remove from License Manager or JXplorer
VMware vCenter Server 8.x
VMware ESXi 8.x
This issue can be resolved by un-assigning the license to the SRM solution, removing it from the licenses pane, and then removing the evaluation license. Once the evaluation license is removed then, readd the license for SRM and assign it back to the solution. It is important to do so in this order to resolve this issue.