WatchDog "Unhandled error starting application: 5"

I have just tried to launch the game from the launcher but when I click on "play" I get the message:

"WatchDog "Unhandled error starting application: 5""

This is a new one for me. Are others experiencing it? Do you have a work around? Suggestions gratefully received.
 
I should add that the Panda Antivirus now views the ED Launcher as a suspect program to be stopped which may be connected - again, a new problem
 
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