I recently came across this problem.
The SECARS test worked OK, but the SEP client remained offline.
In the SyLink log there were lines like this:
07/30 14:49:18 [4532] <SendRegistrationRequest:>http://10.9.0.71:8014 [encrypted data]
07/30 14:49:18 [4532] 14:49:18=>Send HTTP REQUEST
07/30 14:49:48 [4532] AH: (InetWaiting) time out. Timeout period: 30000
07/30 14:49:48 [4532] Throw Internet Exception, Error Code=4294967287;Internet Session Timeout
It turned out that some of the network adapters had self-assigned IP addresses (APIPA) because there was no DHCP and the unused NICs were connected to the switch but without fixed IP.
Check that all IPs in all NICs are correct. If possible, disable all NICs except one and test again. And repeat for all of them.
The SEP client could be trying to connect to the SEPM via the "wrong" NIC...