'Exception has been thrown by the target of an invocation' on startup - licensing issue

I have posted this on the main Trados Studio forum, but, as the issue may be related to licensing, I am posting it here too:

I am using Trados Studio 2021.

When trying to run the programme, I received the error 'service 'sdl.translationstudio.api.projectmanagement.iprojectmanagementservice' could not be started' and the startup process terminated. There was no incident that could have caused this as far as I know, but after renaming the folders 'Trados Studio' in AppData/Local and AppData/Roaming and performing a repair, the error stopped appearing. 

Now I get a brand-new error on startup, namely 'Exception has been thrown by the target of an invocation', which also terminated the startup process. I have tried renaming the AppData folders again, repairing the software again, restarting my PC, and fully uninstalling and reinstalling the programme. None of these have worked at all.

It worked fine a few hours earlier and there had been no software or hardware changes or even restarts since then.

Within the error message is the phrase 'Could not connect to license server.', but I can't find any information on why this might be. 

There are various other threads about similar issues, but none of them have received any helpful responses - it also seems that most articles on the RWS Gateway are no longer functional. 

Any ideas on how to solve this or what might be causing it? 

Thanks in advance!

Error details below:

<SDLErrorDetails time="09/04/2025 14:56:49">
<ErrorMessage>Exception has been thrown by the target of an invocation.</ErrorMessage>
<Exception>
<Type>System.Reflection.TargetInvocationException, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089</Type>
<HelpLink />
<Source>mscorlib</Source>
<HResult>-2146232828</HResult>
<StackTrace><![CDATA[ at System.RuntimeTypeHandle.CreateInstance(RuntimeType type, Boolean publicOnly, Boolean noCheck, Boolean& canBeCached, RuntimeMethodHandleInternal& ctor, Boolean& bNeedSecurityCheck)
at System.RuntimeType.CreateInstanceSlow(Boolean publicOnly, Boolean skipCheckThis, Boolean fillCache, StackCrawlMark& stackMark)
at System.RuntimeType.CreateInstanceDefaultCtor(Boolean publicOnly, Boolean skipCheckThis, Boolean fillCache, StackCrawlMark& stackMark)
at System.Activator.CreateInstance[T]()
at Sdl.Desktop.Platform.Wizard.WizardPageReference`2.get_WizardPage()
at Sdl.TranslationStudio.Common.SetupWizard.SetupWizardLauncher.Execute()
at Sdl.Desktop.Platform.Implementation.Studio.ExecuteStartupExtensions(ISplashScreen splashScreen)
at Sdl.Desktop.Platform.Implementation.Studio.Run(ISplashScreen splashScreen, IEventAggregator eventAggregator, IPluginLoaderService pluginLoaderService, ICommandLineParsingService commandLineParsingService)
at Sdl.TranslationStudio.Application.Launcher.RunApplication()]]></StackTrace>
<InnerException>
<Type>Sdl.Common.Licensing.Provider.SafeNetRMS.SafeNetRMSLicensingProviderException, Sdl.Common.Licensing.Provider.SafeNetRMS, Version=16.0.0.0, Culture=neutral, PublicKeyToken=c28cdb26c445c888</Type>
<ErrorCode>1</ErrorCode>
<ProviderErrorCode>210003</ProviderErrorCode>
<ErrorMessage>Could not connect to license server.</ErrorMessage>
<HelpLink />
<Source>Sdl.Common.Licensing.Provider.SafeNetRMS</Source>
<HResult>-2146233088</HResult>
<StackTrace><![CDATA[ at Sdl.Common.Licensing.Provider.SafeNetRMS.UnifiedAPIProvider.GetFeatures()
at Sdl.Common.Licensing.Provider.SafeNetRMS.LicensingProvider.GetAvailalbeFeatures()
at Sdl.Common.Licensing.Provider.SafeNetRMS.LicensingProvider.GetProductLicense()
at Sdl.Common.Licensing.Provider.Core.ApplicationLicenseManager.GetProductLicense()
at Sdl.Common.Licensing.Provider.Core.ApplicationLicenseManager.GetCurrentProductLicense()
at Sdl.ProjectApi.Implementation.Licensing.Perpetual.PerpetualLicense.get_Authorised()
at Sdl.TranslationStudio.Common.Licencing.LicensingService.get_HasActiveLicense()
at Sdl.TranslationStudio.Common.Licencing.LicensingService.get_ActiveLicense()
at Sdl.TranslationStudio.Common.Licencing.LicensingService.IsFeatureActive(String feature)
at Sdl.TranslationStudio.Common.LicenseUtils.IsFeatureActive(String feature)
at Sdl.TranslationStudio.Common.SetupWizard.SamplesWizardPage..ctor()]]></StackTrace>
<InnerException>
<Type>com.sntl.licensing.LicensingException, SentinelLicensing, Version=10.0.0.121, Culture=neutral, PublicKeyToken=dc3af25398b040a3</Type>
<HelpLink />
<Source>SentinelLicensing</Source>
<HResult>-2146233088</HResult>
<StackTrace><![CDATA[ at com.sntl.licensing.ApplicationContext.getInfo(String scope, String query)
at Sdl.Common.Licensing.Provider.SafeNetRMS.UnifiedAPIProvider.GetFeatures()]]></StackTrace>
</InnerException>
</InnerException>
</Exception>
<Environment>
<ProductName>Trados Studio</ProductName>
<ProductVersion>Studio16</ProductVersion>
<EntryAssemblyFileVersion>16.2.10.9305</EntryAssemblyFileVersion>
<OperatingSystem>Microsoft Windows 11 Professionnel</OperatingSystem>
<ServicePack>NULL</ServicePack>
<OperatingSystemLanguage>1033</OperatingSystemLanguage>
<CodePage>1252</CodePage>
<LoggedOnUser>AzureAD\[username]</LoggedOnUser>
<DotNetFrameWork>4.0.30319.42000</DotNetFrameWork>
<ComputerName>ISO-WD02</ComputerName>
<ConnectedToNetwork>True</ConnectedToNetwork>
<PhysicalMemory>8014960 MB</PhysicalMemory>
</Environment>
</SDLErrorDetails>

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