2590956 - "Could not open app. Please try again later" for application with Failed to load library-preload.js

When launching the Simulate Configuration Model or any other application from the Fiori Launchpad, the user is presented with the error message "Could not open app. Please try again later" and the following errors show in the console:

• "failed to load Javascript resource"
• "failed to load '.../library-preload.js'" 
• 404 error on library-preload.js when being called from the path /sap/bc/ui5_ui5/ui2/ushell/resources
• "App has errors and may not not run correctly"
• "Failed to load UI5 component with property"

SAP Fiori Launchpad

/sap/i2d/lo/lib/vchclf/library-preload.js, SICF, app index ui2 resources lrep /cus/sd/lib/worklist/library.js , KBA , CA-UI5-ABA-AIDX , UI5 App Infrastr.: App Index,Descriptor & Variants , CA-UI2-INT-BE , Please use CA-FLP-ABA , LO-VCH-FIO-SIM , Simulation environment of VC on HANA , Problem