We can't tell from a SEN what your licence level is (we're not Atlassian, we're a community here to talk about Atlassian, so we can't look it up).
However, a commercial Server (or DC) licence (25+ people essentially) includes a "developer licence" which is explicitly written up as to be used for development, testing of any form, disaster recovery, upgrades and so-on. As a sandbox clearly falls into at least three of those areas, yes, you can have a sandbox on a dev licence. Or lots of them if you want.
It's the same process as installing your production server - find some kit to run it on, run the install as per docs, give it the developer licence key, done.
Developer licences match your production licence (so 100 production users = 100 development users, same expiry date etc).
You can get the key for one by going to my.atlassian.com and logging in as any of the billing or tech contacts, and looking at the production licence key, there's a link to the developer licence underneath that key!
Nic already answered perfectly to your question - if you are in the mood of reading please find information about creating a test environment, from Atlassian documentation, here:
Regards,
Daniel
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