Flexera One ITAM does not automatically make any specific determination or distinction of whether or not any individual device is or is not allowed to have software installed (if that is what you mean by the concept of being "licensed").
In this situation you have described, and assuming a simple device-based license, you will see all devices (installs) on the Consumption tab of the license. The consumption on the license would be 200, with the license having an "At risk" status due to the consumption being more than the purchased count.
If you want to somehow differentiate particular devices which you consider are approved or otherwise allowed to have the software, one approach would be to explicitly allocate them to the license. Another approach would be to use scoping or other restriction/use rights settings on the license record to control which devices the license will apply to.
(Did my reply solve the question? Click "ACCEPT AS SOLUTION" to help others find answers faster. Liked something? Click "KUDO". Anything expressed here is my own view and not necessarily that of my employer, Flexera.)
