I take it from your moniker that you live in GA? My brother lives in Alpharetta, and I have been with him when he was pulled over in a similar incident. But, he had just purchased his car, and as soon as he demonstrated that to the cops, we were sent on our way.
But, wouldn't the $10K have been paid when he purchased and titled his car, with only the nominal annual license fee due every year. Or, is GA like some other states that levies an annual personal property tax on its vehecles?
In GA you pay PPT. Also it is very common to see “tag applied for” signs in place of a license plate. Allen has been doing this for a couple of years obviously.