Just to update the forum thread as well so that it could help other users experiencing the problem.
We discovered the following can work-around the problem:
- Uninstall Test Studio.
- Delete the .config files from C:\ProgramData\Telerik\Configs.
- Install Test Studio.
We will do our best to isolate the problem internally and address it for an upcoming release.
Thanks for the understanding!
the Telerik team