Local Database is incompatible

Hi...I have just installed DaVinci Resolve 16 Studio on my Windows laptop. It is a licensed version. When loading the program the first time, a screen comes up that says: "Local Database" database is incompatible.

I cannot figure out what needs to be done to set up a database. For background, I have been various editing software for 20 years but I do not have a strong knowledge of software setup.

I had previously had a free version of Resolve 17 on my laptop but then uninstalled it before this licensed version was installed. Would this have any impact as I was able to get into the Resolve 17 software?

Any assistance would be appreciated. Thank you.
Don

Yes. Version 17 databases are not backwards compatible with 16.

Thank you for your response. I uninstalled version 17. What do I need to do further to get this to work?

Well, in your case I'd install 17 Studio version then. (That will work fine with your DR16 license key)

You will have to work in 17 as the database cannot be made to work in 16.

thank you all for your help and input