If you purchased a new perpetual license of V-Ray 5 for 3ds Max between June 7, 2022 and July 7, 2022, you’ve been automatically upgraded to the new version and can download it from your Chaos account.
N.B. Licenses upgraded from V-Ray Next to V-Ray 5 in the time period between June 7, 2022 and July 7, 2022 are not eligible for a free upgrade, this policy is valid only for newly purchased licenses.