To expand on Rich's answer -
It sounds like you applied for a 50GB Dev/Test license using this form: https://splunk.com/dev-test - this type of license is available to any customer associated with an account that has a paid Splunk Enterprise of Splunk Cloud entitlement of any size. If you believe you meet these criteria, but are getting rejected when applying for this type of license, please reach out to your Splunk sales representative.
For 10GB Developer licenses (which can be requested using this form: https://dev.splunk.com/enterprise/dev_license ) the approval process is manual and should be answered within 2-3 business days. If it's been longer than this since you've applied, please reach out to devinfo@splunk.com for assistance.
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