1) Get an Offline Programming Key
2) Get a Codemeter License File

Both of these are free and only take a couple of minutes to setup.

OFFLINE PROGRAMMING KEY SETUP

Open In-Sight Vision Suite.

Click on the Gear Icon and go to Emulator:

There will be an Offline Programming Reference value.  Copy that value, leaving this window open.  Then click Help...

This will take you to Cognex' website.  Or you can use this link:

https://support.cognex.com/en/help-articles/in-sight-key-generator

You now need to create a Cognex Login if you don't have one.

After logging in, go back to the above page.

Enter your company name and paste in the Offline Programming Reference.

Click Generate and then copy the provided Key and paste it back into the Offline Programming Key in InSight Vision Suite

CODEMETER LICENSE

In order to use EL Tools in your emulator you need a codemeter license.

Go here:

https://support.cognex.com/en/help-articles/in-sight-vision-suite

Download the license file.

Open Codemeter and select File->Import License and install the license.

You also need internet access for the EL License to work.  If you need to do offline emulation without internet access, you can purchase an EL Tools USB dongle from your Cognex distributor to enable fully offline emulation of EL tools.