Please check this out
Windows 10 - The application was unable to start correctly - Microsoft Community
Another option would be to uninstall workstation, clean all it's installation files and reinstall
VMware Workstation Pro 15.5 installed first, on startup error.
Then installed VMware Workstation Pro 16, at startup error, tried to uninstall and reinstall with failure.
Maybe I need to downgrade the OS (Windows 10 Pro Version 20H2-Build 19042,572) or wait for a patch for the problem.