3423503 - The EPM Add-in is disabled upon starting Excel

The following error message is displayed upon starting Excel:

Excel is running into problems with the 'fpmxlclient.connect' add-in. If this keeps happening, disable this add-in anch hec for available updated. Do you want to disable it now?

Upon inspecting the Windows Application Event log, the following errors can be found:

.NET Runtime

Application: EXCEL.EXE Framework Version: v4.0.30319 Description: The process was terminated due to an unhandled exception. Exception Info: System.IO.DirectoryNotFoundException at System.IO.__Error.WinIOError(Int32, System.String) at System.IO.FileSystemEnumerableIterator`1[[System.__Canon, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]].CommonInit() at System.IO.FileSystemEnumerableIterator`1[[System.__Canon, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]]..ctor(System.String, System.String, System.String, System.IO.SearchOption, System.IO.SearchResultHandler`1<System.__Canon>, Boolean) at System.IO.Directory.GetFiles(System.String, System.String) at FPMXLClient.Logging.ConfigurationFileHelper.DeleteOldFiles() at System.Threading.ExecutionContext.RunInternal(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object, Boolean) at System.Threading.ExecutionContext.Run(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object, Boolean) at System.Threading.ExecutionContext.Run(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object) at System.Threading.ThreadHelper.ThreadStart()

or

Faulting application name: EXCEL.EXE, version: 16.0.14326.20962, time stamp: 0x627801ef
Faulting module name: KERNELBASE.dll, version: 10.0.19041.3693, time stamp: 0x64ee7a9c
Exception code: 0xe0434352
Fault offset: 0x0013f932
Faulting process id: 0x206c
Faulting application start time: 0x01da499c99488623
Faulting application path: C:\Program Files (x86)\Microsoft Office\Root\Office16\EXCEL.EXE
Faulting module path: C:\WINDOWS\System32\KERNELBASE.dll
Report Id: 961b0e4d-dfe7-4bc3-9a50-72ff2a7a560a
Faulting package full name: 

or

Application: EXCEL.EXE
Framework Version: v4.0.30319
Description: The process was terminated due to an unhandled exception.
Exception Info: System.IO.IOException
   at System.IO.__Error.WinIOError(Int32, System.String)
   at System.IO.FileSystemEnumerableIterator`1[[System.__Canon, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]].CommonInit()
   at System.IO.FileSystemEnumerableIterator`1[[System.__Canon, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]]..ctor(System.String, System.String, System.String, System.IO.SearchOption, System.IO.SearchResultHandler`1<System.__Canon>, Boolean)
   at System.IO.Directory.GetFiles(System.String, System.String)
   at FPMXLClient.Logging.ConfigurationFileHelper.DeleteOldFiles()
   at System.Threading.ThreadHelper.ThreadStart_Context(System.Object)
   at System.Threading.ExecutionContext.RunInternal(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object, Boolean)
   at System.Threading.ExecutionContext.Run(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object, Boolean)
   at System.Threading.ExecutionContext.Run(System.Threading.ExecutionContext, System.Threading.ContextCallback, System.Object)
   at System.Threading.ThreadHelper.ThreadStart()

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• SAP EPM Add-in for Microsoft Office

SAP Business Planning and Consolidation 10.1, version for Microsoft ; SAP Business Planning and Consolidation 10.1, version for SAP NetWeaver ; SAP Business Planning and Consolidation 11.0, version for SAP BW/4HANA ; SAP Business Planning and Consolidation 11.1, version for SAP BW/4HANA ; SAP Business Planning and Consolidation 2021, version for SAP BW/4HANA

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