LR Controller Error: "An unsupported operation was attempted"

Hi for the last couple of days, we have started facing issues on our LR machine (OS: win xp sp3, RAM 3Gb)

we checked the system event logs, no updates on the machine were performed in the last week. Also disabling antivirus and running it does not help either. Now we are all stuck and can not do anything.

The last option is to try re-installing it. But before that I want to get an opinion from the experts here.

LR crashes with following error.
Openening any scenario in Cotnroller will throw "An unsupported operation was attempted"
It prompts a message of launching Visual C debugger.

NOTE: I checked that our LR license is still valid.
PFA screenshot of the error.

Any help or suggestion is greatly appreciated.

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