em Client has stopped working (cannot activate)

I am unable to activate eM Client. When I enter my license key, em Client restarts and fails to launch.

<report xmlns="http://emclient.com/ns/report">
  <product>
    <name>eM Client</name>
    <version>10.3.1524.0</version>
  </product>
  <silent>false</silent>
  <environment>
    <osversion>Microsoft Windows NT 10.0.26100.0</osversion>
    <frameworkversion>8.0.15</frameworkversion>
    <culture>en-US</culture>
    <uiculture>en-US</uiculture>
  </environment>
  <exception>
    <type>System.Reflection.TargetInvocationException</type>
    <message>Exception has been thrown by the target of an invocation.</message>
    <source>System.Private.CoreLib</source>
    <data>
      <DbLocationDriveType>Fixed</DbLocationDriveType>
      <DbLocationFreeDiskSpace>541058498560</DbLocationFreeDiskSpace>
    </data>
    <inner>
      <exception>
        <type>System.Exception</type>
        <message>Error when activating.</message>
        <source>MailClient</source>
        <stack>
          <frame>
            <method>
              <modulename>MailClient.dll</modulename>
              <metadatatoken>100671185</metadatatoken>
              <assembly>MailClient, Version=10.3.0.0, Culture=neutral, PublicKeyToken=null</assembly>
              <type>MailClient.UI.Forms.formLicense</type>
              <name>backgroundWorker1_RunWorkerCompleted</name>
              <parameters>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Object</type>
                  <name>sender</name>
                </parameter>
                <parameter>
                  <assembly>System.ComponentModel.EventBasedAsync, Version=8.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a</assembly>
                  <type>System.ComponentModel.RunWorkerCompletedEventArgs</type>
                  <name>e</name>
                </parameter>
              </parameters>
            </method>
            <offset>18</offset>
            <nativeoffset>61</nativeoffset>
            <filename />
          </frame>
          <frame>
            <method>
              <modulename>System.ComponentModel.EventBasedAsync.dll</modulename>
              <metadatatoken>100663345</metadatatoken>
              <assembly>System.ComponentModel.EventBasedAsync, Version=8.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a</assembly>
              <type>System.ComponentModel.BackgroundWorker</type>
              <name>OnRunWorkerCompleted</name>
              <parameters>
                <parameter>
                  <assembly>System.ComponentModel.EventBasedAsync, Version=8.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a</assembly>
                  <type>System.ComponentModel.RunWorkerCompletedEventArgs</type>
                  <name>e</name>
                </parameter>
              </parameters>
            </method>
            <offset>12</offset>
            <nativeoffset>16</nativeoffset>
            <filename />
          </frame>
          <frame>
            <method>
              <modulename>System.ComponentModel.EventBasedAsync.dll</modulename>
              <metadatatoken>100663338</metadatatoken>
              <assembly>System.ComponentModel.EventBasedAsync, Version=8.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a</assembly>
              <type>System.ComponentModel.BackgroundWorker</type>
              <name>AsyncOperationCompleted</name>
              <parameters>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Object</type>
                  <name>arg</name>
                </parameter>
              </parameters>
            </method>
            <offset>e</offset>
            <nativeoffset>29</nativeoffset>
            <filename />
          </frame>
          <frame>
            <method>
              <modulename>System.Private.CoreLib.dll</modulename>
              <metadatatoken>0</metadatatoken>
              <assembly />
              <type />
              <name>InvokeStub_SendOrPostCallback.Invoke</name>
              <parameters>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Object</type>
                  <name>&lt;unknown&gt;</name>
                </parameter>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Span`1[[System.Object, System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e]]</type>
                  <name>&lt;unknown&gt;</name>
                </parameter>
              </parameters>
            </method>
            <offset>ffffffff</offset>
            <nativeoffset>14</nativeoffset>
            <filename />
          </frame>
          <frame>
            <method>
              <modulename>System.Private.CoreLib.dll</modulename>
              <metadatatoken>100690077</metadatatoken>
              <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
              <type>System.Reflection.MethodBaseInvoker</type>
              <name>InvokeWithOneArg</name>
              <parameters>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Object</type>
                  <name>obj</name>
                </parameter>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Reflection.BindingFlags</type>
                  <name>invokeAttr</name>
                </parameter>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Reflection.Binder</type>
                  <name>binder</name>
                </parameter>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Object[]</type>
                  <name>parameters</name>
                </parameter>
                <parameter>
                  <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
                  <type>System.Globalization.CultureInfo</type>
                  <name>culture</name>
                </parameter>
              </parameters>
            </method>
            <offset>61</offset>
            <nativeoffset>1a9</nativeoffset>
            <filename />
          </frame>
        </stack>
        <data />
        <inner>
          <exception>
            <type>System.IO.FileNotFoundException</type>
            <message>Could not load file or assembly 'Licensing.Client, Version=2.0.0.0, Culture=neutral, PublicKeyToken=null'. The system cannot find the file specified.</message>
            <source>MailClient</source>
            <stack>
              <frame>
                <method>
                  <modulename>MailClient.dll</modulename>
                  <metadatatoken>100693816</metadatatoken>
                  <assembly>MailClient, Version=10.3.0.0, Culture=neutral, PublicKeyToken=null</assembly>
                  <type>MailClient.Program+&lt;&gt;c</type>
                  <name>&lt;SetUpDependencyInjection&gt;b__297_12</name>
                  <parameters>
                    <parameter>
                      <assembly>System.ComponentModel, Version=8.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a</assembly>
                      <type>System.IServiceProvider</type>
                      <name>sp</name>
                    </parameter>
                  </parameters>
                </method>
                <offset>ffffffff</offset>
                <nativeoffset>0</nativeoffset>
                <filename />
              </frame>
              <frame>
                <method>
                  <modulename>Microsoft.Extensions.DependencyInjection.dll</modulename>
                  <metadatatoken>100663454</metadatatoken>
                  <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                  <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.CallSiteRuntimeResolver</type>
                  <name>VisitFactory</name>
                  <parameters>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.FactoryCallSite</type>
                      <name>factoryCallSite</name>
                    </parameter>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.RuntimeResolverContext</type>
                      <name>context</name>
                    </parameter>
                  </parameters>
                </method>
                <offset>0</offset>
                <nativeoffset>3c</nativeoffset>
                <filename />
              </frame>
              <frame>
                <method>
                  <modulename>Microsoft.Extensions.DependencyInjection.dll</modulename>
                  <metadatatoken>100663474</metadatatoken>
                  <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                  <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.CallSiteVisitor`2</type>
                  <name>VisitCallSiteMain</name>
                  <parameters>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.ServiceCallSite</type>
                      <name>callSite</name>
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                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type />
                      <name>argument</name>
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                </method>
                <offset>23</offset>
                <nativeoffset>7e</nativeoffset>
                <filename />
              </frame>
              <frame>
                <method>
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                  <metadatatoken>100663448</metadatatoken>
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                  <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.CallSiteRuntimeResolver</type>
                  <name>VisitRootCache</name>
                  <parameters>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
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                      <name>callSite</name>
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                    <parameter>
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                  </parameters>
                </method>
                <offset>61</offset>
                <nativeoffset>12e</nativeoffset>
                <filename />
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                <method>
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                  <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.CallSiteVisitor`2</type>
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                  <parameters>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
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                <offset>4f</offset>
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                  <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.CallSiteRuntimeResolver</type>
                  <name>Resolve</name>
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                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
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                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.ServiceProviderEngineScope</type>
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                <offset>26</offset>
                <nativeoffset>6d</nativeoffset>
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              <frame>
                <method>
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                  <type>Microsoft.Extensions.DependencyInjection.ServiceProvider</type>
                  <name>CreateServiceAccessor</name>
                  <parameters>
                    <parameter>
                      <assembly>Microsoft.Extensions.DependencyInjection, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
                      <type>Microsoft.Extensions.DependencyInjection.ServiceLookup.ServiceIdentifier</type>
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                <offset>48</offset>
                <nativeoffset>103</nativeoffset>
                <filename />
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              <frame>
                <method>
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                <filename />
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                      <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
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              </frame>
              <frame>
                <method>
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                  <assembly>Microsoft.Extensions.DependencyInjection.Abstractions, Version=9.0.0.0, Culture=neutral, PublicKeyToken=adb9793829ddae60</assembly>
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                <filename />
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              <frame>
                <method>
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                      <assembly>System.Private.CoreLib, Version=8.0.0.0, Culture=neutral, PublicKeyToken=7cec85d7bea7798e</assembly>
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                <nativeoffset>6b</nativeoffset>
                <filename />
              </frame>
              <frame>
                <method>
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                  <assembly>MailClient, Version=10.3.0.0, Culture=neutral, PublicKeyToken=null</assembly>
                  <type>MailClient.UI.Forms.formLicense</type>
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                    <parameter>
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                    <parameter>
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                <filename />
              </frame>
              <frame>
                <method>
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                  <metadatatoken>100663344</metadatatoken>
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                <nativeoffset>16</nativeoffset>
                <filename />
              </frame>
              <frame>
                <method>
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                  <name>WorkerThreadStart</name>
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                <offset>e</offset>
                <nativeoffset>48</nativeoffset>
                <filename />
              </frame>
            </stack>
            <data />
          </exception>
        </inner>
      </exception>
    </inner>
  </exception>
</report>

I had to truncate the XML, here is the full output.