I am seeing this error on CRM tracing on a Windows 10 Pro client:

Log Name: Application
Source: MSCRMTracing
Date: 4/27/2020 4:50:12 PM
Event ID: 17203
Task Category: None
Level: Error
Keywords: Classic
User: N/A
Computer: %computername%.domain.local
Description:
Invalid Trace Directory. Additional Info:[ Invalid Trace Directory (Reporting Process:Trace Diretory is Null. TraceSettings: {Filename: ,FileCountSuffix:1 ,TraceFileSize:10485760 ,TraceDirectory:C:\Users\%username%\AppData\Local\Microsoft\MSCRM\Traces ,TracingCallStack:No ,IsTracingOff:Unset ,LoadState:LoadSuccessfulUnreported ,RefreshTraceInt:-1 ,SiteWideRefreshTraceInt:-1 ,RegistryRefreshTraceInt:-1 ,Precedence:Default} ] , AppDomain:IEXPLORE)
Event Xml:



17203
0
2
0
0
0x80000000000000

11783


Application
%computername%.domain.local



[ Invalid Trace Directory
Trace Diretory is Null. TraceSettings: {Filename: ,FileCountSuffix:1 ,TraceFileSize:10485760 ,TraceDirectory:C:\Users\%username%\AppData\Local\Microsoft\MSCRM\Traces ,TracingCallStack:No ,IsTracingOff:Unset ,LoadState:LoadSuccessfulUnreported ,RefreshTraceInt:-1 ,SiteWideRefreshTraceInt:-1 ,RegistryRefreshTraceInt:-1 ,Precedence:Default} ]
IEXPLORE
C:\Program Files (x86)\Internet Explorer\



I have not seen any obvious errors on this workstation, it displays the CRM client OK in Outlook 2019

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