I feel like a licencing process for software engineers would

A) test lots of skills that are common but not universal. I'm thinking javascript trivia here, where I don't write any javascript in my professional capacity as a software engineer; but there are many people who think Software Engineer == Javascript Programmer

B) shine too much of a light on the fact that this industry is full of people who demand high salaries but can't program their way out of a paper bag

I think that's coming regardless. AI just might be the perfect storm to bring the timeline in considerably.

Engineer is a protected title in Canada after all