Hi Alena,
Hope you are keeping well.
Yes, it is possible to generate a license with License Generation API's. For reference, please use Sentinel LDK 7.4 Toolbox.exe. Download link for LDK 7.4 is "http://sentinelcustomer.safenet-inc.com/DownloadNotice.aspx?dID=8589947463".
Please take reference from API guide, link is https://we.tl/PkWXnXA0YK
Thank You,
Anubhav