To be on the safe side I uninstalled previous old version before installing new duplicacy_installer_win64_1.1.0.exe.
I had no choice to select a directory, it forces installation in C:…\local\duplicacy which is against internal rule to install software of any kind in AppData area.
Anyway, clicking the icon starts program with above err msg and terminates again. So it is not possible to put in the serial number or to use the program somehow.