One license can only be assigned to one user account and one user account can only be assigned with one license at a given period. And online licenses have higher priorities over offline licenses. Based on these facts, please understand that:
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The user can log into (activate) the product with an online license when it is already activated with an offline license, and the online license will take effect and the offline license will be temporarily disabled (not deactivated). When the online license is logged out (de-activated) or gets expired, the offline license will take effect again.
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However, the user cannot activate the product with an offline license if he/she has already logged into (activated) the product with an online license.