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The "host" in this case is the computer name where the RLM license server is running. Maxwell will try to connect to it using the default connection port of 5053 (note that this is different than the 5054 port mentioned below). In Windows and Linux this file will be placed in the same location as mentioned above. In OS X it will be located in /Users/<username>/Maxwell.
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If you are using Windows it may happen that you can't find the folder mentioned above. It is because that folder is hidden by default. If you want to make it visible you have to tap Windows key and write "Folder Options" to search for that panel. Open it and activate this option in View tab, then click OK: go to View tab in File Explorer and check the option to see "Hidden files":
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Custom location for the license files
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