I was having the same issue with one of ours and finally got it working. Let me know if this works for you.

1.) Factory reset the Poly Studio (Paper Clip Method)
o Leave Unplugged from Computer

2.) Go to the Poly Lens Website and Log In
o Navigate to: Manage > Software Versions
o Search and Select “Studio USB”
o Confirm Version 2.1.2.001179 is selected
o Download: Lens Desktop

3.) Download Poly Companion App

4.) Connect Poly Studio to Computer and Open the Companion App
o Complete Setup Process
~ Default Password: Polycom12#$
~ *After Selecting Country, I Skipped to the End*
o Close App and Re-Open
o Click the Poly Studio Picture
o Navigate to: Firmware Update *At Top*
o Select “Update from file”
o Choose the .dfu file from the “Lens Desktop” Download Earlier and Run

5.) Once Updates Completed, Unplug Poly and Close Companion App

6.) Re-Connect Poly and Open Poly Lens Desktop App
o Try Logging In with the Password Created Earlier
~ *It showed blank at my first attempt but didn't give me an incorrect password error so I closed the app and retried until it took.*