Yes, It does not require a License. It is available in UiPath Studio like any normal activity.
Yes. We can edit selectors by using variables. Check below post for more info :
The RE-Framework is already a built-in framework provided by UiPath. It would mean there are already built-in mechanisms that could help us in developing a better automation. Such as Retry mechanism on an Unexpected Exception, Handling of Business Exceptions, Entry and Exit Stages of an Automation Project. Along with that it makes the scalability of the automations much flexible to be used.