Thank you for contacting us.
This is ASP "Yellow screen of death", it is not a Test Studio exception. A Yellow Screen of Death occurs when an ASP.NET web application encounters a problem and crashes. It seems that your server is not configured correctly.
1. Are you able to navigate to that URL successfully out of Test Studio?
2. Could you try to create a simple test against google.com for example.
Hope to hear from you soon.