I checked from win register and there is mentioned version 4.8.04084, so it should be latest (and last) version.

I have a same problem. Noticing that it try to open for some reason a project called ''The-Sky-is-the-Limit_PS25.Movie.AXP. I Find that AXP file and double click it -> PS25U opened and this time let me choose that Cancel project and start new project. Then it seems working until I closed and tried to launch again. Same problem but different ...