Error starting Studio 2021 Service ‘Sdl.TranslatioStudio.AlignmentEditor.IAlignmentEditorService’ could not be started

I am unable to open the Trados2021 SR1 (purchased just about a month ago:

Error starting Studio 2021 Service ‘Sdl.TranslatioStudio.AlignmentEditor.IAlignmentEditorService’ could not be started. I've tried repairing, but still the application is  not starting. All my work has come to a complete standstill.

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