The manual is not very helpful here, see below; I would open a TAC case.
Copy the message exactly as it appears on the console or in the system log. Research and attempt to resolve the issue using the tools and utilities provided at http://www.cisco.com/tac. Also refer to the Release Notes for Cisco UCS Manager and the Cisco UCS Troubleshooting Guide. If you cannot resolve the issue, execute the show tech-support command and contact Cisco Technical Support.
As Walter said, you better open a case... doing a quick research I find mates doing a downgrade and then try an upgrade again to solve it. Others just do the upgrade again and do a "Force" activation which is available in the Auto Install beginning with UCSM 2.1.
Just before you open the case, what is the process you used to upgrade, Manual or Auto Install? If you did it manually, did you follow the steps to do it in the right order? failing to do it in this wait can cause this type of problems.
Introduction This article will help you understand the steps on how to
download the UCS licenses from the Cisco Systems website and then
installing it on the UCS. The redacted (blue lines) just covers up
certain numbers for privacy please do not take them...
Introduction This article will help you understand and educate the
customer on how to clear their "expired licenses"
(license-graceperiod-expired) from their UCS-M. If a customer just
purchased a license and needs a step by step guide on how to download
==================== VIC FNIC driver does not support Virtual Volumes (
second level LUN ID ) An enhancement request has been created to track
this feature - CSCux64473 UPDATE - 12-14-2016 We made some traction on
the enhancement request - The Fix is in t...