This newer versions cycle engine are server based. The software will need to connect to the server via API and you must have a subscription to FSC (Foundation for the Study of Cycles)
You may consider the earlier Wave59 version (v2.33) where the cycles engine are included in the dll. So far as I last check, all the indicators in the Wave59 versions are the same as in the newer version, including the Metatonic Cycles indicator.