I will guarantee you that is not how that vast majority of the population would interpret it. Very few people even know that there is such a thing as a licensed professional engineer.
Most reasonable people would take the term "professional engineer" to mean somebody who performs engineering work of some sort in a professional capacity.
Actual doing something should take precedence over some license primary used to gatekeep a profession and fill state coffers with licensing fees.
The fact that we still have guilds operating in the 21st century is embarrassing.