Your SAS licence is specific to your site number and SAS software order so if you try applying some other licence with a different site number it will fail.
Unless both licenses include the exact same modules, you will need a new software depot.
It's always a good idea to combine a license renewal (where you will need downtime of your services anyway) with an update of your SAS installation to the current maintenance level.
The SAS Users Group for Administrators (SUGA) is open to all SAS administrators and architects who install, update, manage or maintain a SAS deployment.