The Microsoft 365 Business Standard license allows you to install/use Office 365 across 5 different devices. This means if you installed O365 on a terminal server, had everyone login as themselves; they could license Office to themselves individually if they had this license.
The process would be to have them login as themselves > activate office > (this would use one of their 5 devices allowed).
To clarify, "1 E3 or Business Premium license" would most likely be in conflict with Microsoft's EULA as a license is per user.
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