The launcher cannot be installed or run

The GamezDB Launcher Setup.exe returns an error about some retrictions when run. Even if only one letter is different in the name, it runs fine. For example: GamezDB Launcher Installer.exe

Same case with the actual launcher now installed. GamezBDO.exe gives the same exact error when run, until at least one letter is changed in the name. For example: GamezBDO Launcher.exe

The error message in question looks like this:

What could be the cause of this?

 

Press Start -> Run -> Type gpedit.msc to open Group Policy.
Navigate here:
User Configuration -> Administrative Templates -> System
Look for the setting named 'Don't run specified Windows applications' and since you are facing the issue, this might be set to Enabled. Set the policy to Not Configured status, then click Apply followed by OK. You may close the Group Policy and restart your PC to get fixed.

 

Well it's weird because it's already set to Not Configured.