Same issue, I reached out to MS and they say it's and issue with Bungie. If it's not resolved soon I'll be getting a refund.
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I can play on my account and my son can play if I login and let him get started with his account before I logout otherwise he cannot see any of The Taken King game. Tried copying the 108k download to his profile since it does not show up there, did not help. Not sure what else to do at this point.