Thanks a lot, that was very insightful.
It seems your Download Data directory is not correctly set for your User Profile - I fixed that this does not crash the app anymore in the next release, until then, you might try to fix that yourself and everything should work after that again.
Along the steps from How do I change and cleanup my default Download location in Windows 10? - Microsoft Q&A
- Open RegEdit
- Go to HKEY_CURRENT_USER\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer\User Shell Folders
- Add/Modify {374DE290-123F-4565-9164-39C4925E467B} to REG_EXPAND_SZ (type) and “D:\your\new\path”
Start TS and retry 
You may want to check though why that is broken in the first place, maybe a somewhat incomplete Windows/User Profile setup?