same problem here.. I think it is because it is a floating extension.
You CAN borrow the CREOSIM_STANDARD as you described
1. initiate a borrow of creo (parametric_borrow.bat), set the day's and click ok; Creo will be started
2. start a simulation and run an analyses
3. during run unplug network connection and/or disable wifi (make sure connection to license server is lost)
4. stop Creo
5. run ptcstatus.bat to check if the licenses are indeed borrowed
you can early return with by creating a .bat file and running it. Content should be following;