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I'm having the exact same issue as well and - still found no fixI have just finished updating MSFS - with the same great deal of difficulty many of you have experienced. AIFP starts up properly, locates MSFS and loads the FedEx flight plans without issue
On yourt system, Windows declares an invalid path which AIFP then relays to you. It is also clear from the screenshots provided that AIFP on your system has found MSFS. That leaves airport database generation. If, when you installed the MSFS update, you changed the location where MSFS is installed, it's possible you have invalidated paths in the earlier airports database. So, I suggest you delete any files in the main AIFP folder whose name starts with "AirportList". As well, I suggest you delete the file AIFP.ini , which will get rid of any history.
Beyond that, I'm afraid its up to you to diagnose your own system. I can't fix what I can't duplicate. Please remember most MSFS users are not having such difficulty, so whatever the issue, it would seem to be a result of something on your system.