TH3 Cakewalk requires no activation. It does contain a demo of the full version of TH3 which is an additional purchase from Overloud.
When Gibson halted SONAR development, Overland provided
unlock codes for some of the products bundled with SONAR including TH3 Cakewalk. The unlocked version of TH3 Cakewalk is still the lite version but may be used in DAWs other than SONAR. The full version of the product is a paid upgrade.
I have no idea if the BandLab announcement affects Overloud's offer.