Once you go through the guide and know what permissions the user requires for setting up QTP , it should take you somewhere between 20-30 minutes maximum to configure the machine inckuding the time required for system restart which is required for some changes to take effect.
Next , installing QTP with all Add-ins , either silently or via GUI ; installing prerequisites ; configuring few things post installation might need 45 minutes to 1 hour.
Now the 2nd part , regarding Licenses. Once all the QTP machines are setup , you will need to decide either you will use Seat license or Concurrent license. May be few machines with seat and few cocurrent.
So all these requests can be taken at once with the licensing portal and get the license key.
Once you have license key , configuring licenses in less than 10 minutes job.
Hope this gives atleast an high level overview.
[If this post or any other post helps to resolve your issue or query, mark the thread as solved and give KUDOS to the author for their assistance. ]
( Posts and opinions made here are my own and do not reflect the opinions of my employer HPE in any way . )