Package licenses for industry collections allow every product in the industry collection to run with a shared license regardless of the release. For example, suppose you have a package license for the Product Design Collection. If so, you can run AutoCAD 2021 and AutoCAD 2020 at the same time (for multi-user only, one license consumed). And you can run AutoCAD 2021 and 3ds Max 2020 at the same time (for single or multi-user, one license consumed).
A license is borrowed for each product in a collection separately and consumes only one subscription from the server. For a suite, one license is borrowed that applies to all products in the same suite.