That code should be added to the themes functions.php file. It works correctly for me, to hide the following message from subscribers but allow admisn to see it
There is an automatic update for Event Espresso available but your Site License Key has not been set. Please go to the Event Espresso General Settings page to set your Site License Key. You can locate your license key from your account on the Event Espresso website.
The support post ‘Disable Update Notifications’ is closed to new replies.
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Support forum for Event Espresso 3 and Event Espresso 4.