I bought the Ultimate Edition on this console, and can log in every time, no issue.
My couch co-op buddy tries to log in on the same console and we always get Code 315306.
Update:
Use this method. It worked for us. After they finish the prologue (make sure they finish it), everyone needs to logout. The license holder needs to log in, select character they wish to play, and choose the world tier they were not on (only temporary), and then enter the game.
P2 can then join on their character and your quests should show as “Shared” (not “Limited”)
Same here. If I log in and get in game, my partner can log in and create an account but they can’t play bc their newly created character isn’t allowed to join.