This allowed me to launch it, however the newly generated license file still crashes acrobat, it just doesn't crash instantly.
When I delete or rename the .lic file the next time I launch acrobat it'll work for as long as I have it open (as far as I can tell from my limited testing). But once that file has been regenerated the next time I launch acrobat it'll crash after about 5-10 seconds. If I delete the file again I can launch it again without it crashing, but it generates the file again and then next time I open acrobat it crashes again.