Hi Nikhil,
Looking at Programs and Features, I can see that the SDL package automatically installed Creative Cloud 4.9.0.504 on my Windows 7 test machine, whereas the same package installs 5.0.0.354 when run on Windows 10.
The problem is that version 4.9 does not appear to recognize the shared device licence. For example, in the list of apps, next to Acrobat DC it says "Try" instead of "Install" and if I push "Try" then, after it is installed, it says "Start Trial" instead of "Open". In this scenario, launching Acrobat from the Start Menu doesn't work either, it says License Expired and that Creative Cloud has been running with a grace license.
I've just now received confirmation from Adobe support that this behaviour is as-designed. I'm upset that this wasn't in the shared device licenses FAQ, if we had known about it beforehand we could have planned accordingly before starting the migration. But I guess that answers my question.
In the meantime, I had already found a partial workaround - as you suggest, if I include the Windows 7 compatible applications in the SDL package (rather than trying to install them via Creative Cloud) and launch them directly from the Start Menu rather than from within Creative Cloud then they work. Unless the user installs a Trial application, which I suspect will kill the SDL, but if I disable self-service install that should eliminate the risk. This is inconvenient, but we'll only be using it for a few months.
I was surprised at how few of the SDL-capable applications will run on Windows 7, though, this also seems like very poor planning on Adobe's part. (And on mine, since I suppose I should have checked this ahead of time.)