If you have a valid Username and Pass it shouldn't, unless there is some kind of validation problem at the update servers. On your end I would contact Eset Support and you could eventually try deleting the update cache. maybe that could help.
Hello, Please verify your Username and Password are entered correctly. Here's how to do this, step-by-step: Open ESET NOD32 Antivirus' user interface from the system tray notification area. Select Update in the left navigation pane. Select Username and Password setup in the right pane. Enter your Username and Password, and click on OK to save them. ESET NOD32 Antivirus should now store your Username and Password. Regards, Aryeh Goretsky