Can you provide a source for your claim that the retail version is not transferrable?
Retail version MAY be non-transferrable.
The same message appears when one buys the full version.
Alas. enterprise licensing is different from end-user licensing.
It is sad, but a LOT of third-party sources do not make a difference between activation and licensing, thou it is said in Article 5 of Windows 10/11 EULA "Successful activation does not confirm that the software is genuine or properly licensed."
And a LOT of third-party sources do not understand that digital license is not a license at all, it is just activation method. Quotation: "A digital license (called a digital entitlement in Windows 10, Version 1511) is a method of activation in Windows 10 that doesn't require you to enter a product key." See https://support.microsoft.com/en-us/windows/activate-windows-c39005d4-95ee-b91e-b399-2820fda32227#:%7E:text=A%20digital%20license%20(called%20a%20digital%20entitlement%20in%20Windows%2010%2C%20Version%201511)%20is%20a%20method%20of%20activation%20in%20Windows%2010%20that%20doesn%27t%20require%20you%20to%20enter%20a%20product%20key.
That's three words on a graphic and not definitive in any way.
I'm not having a problem with any enterprise or OEM licensing.
You're going down a hole into nomenclature about licensing and activation. Regardless of how it was delivered and applied, what I purchased is a retail version of Windows, from Microsoft, so there's no question about it being "genuine or properly licensed". Retail software is transferrable. An argument of what "may or may not" or "could happen" isn't relevant here and is backpeddling the conversation.
This right here implies the ability to change components and reactivate and goes on to say if activation fails due to software not being geniuine, it will try to repair / obtain geniuine software: "During activation (or reactivation that may be triggered by changes to your device’s components), the software may determine that the installed instance of the software is counterfeit, improperly licensed or includes unauthorized changes."
Furthermore, the section you reference is about authorized software (meaning not counterfit) and activation of software, this section doesn't have anything to do with the transfer of a genuine licensed product to a new motherboard / PC build.
I digress because this isn't even about the question I asked in the first place.