This error seems to come from your WPF application itself - the way it is developed or deployed in debug mode. There are multiple solutions in internet how to handle this situation, like this:
From Test Studio side we cannot fix it, but we can advise you how to try to workaround it. As I can see, when WPF launching recorder the exception is shown. Can you please try the following - launch your application first and then from Recorder button dropdow use option to attach recorder to existing application - this can help connect to your WPF application directly, not to the splash screen.
Please tell me if this worked for you, and if you managed to talk to someone from your development team if they can fix it.
If you still have problems, we can try to check the problem locally and see if we can help, but we will need your wpf application for that purpose.
Telerik by Progress