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Can you confirm if you use ModelSim-Altera Starter Edition or Modelsim - Intel FPGA Edition ?
Looks like you do not have a valid license for Modelsim.
If you do not have the license, you may use ModelSim-Altera Starter Edition.
When you install Quartus, you have the option of installing the Starter edition or Intel FPGA edition. If you wrongly installed the Intel FPGA edition, you would get this license issue. If you have the modelsim_ase directory as mentioned, then you installed the correct version and should check the environment variables.
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