For anyone who cares about this issue:
I previously reported this issue in the forum but the forum thread has been closed. I had logged a support on 3rd Dec 2020 and nothing has been done yet for more than 5 months. Here is the acknowledgment from Magix support. I wish some action could be taken to do some justice to this annoyance which greatly affecting my 8 years of loyalty to Magix.
I have confirmed that I have the latest version of Movie Edit Pro Premium installed: 20.0.1.80 (UDP3). I have no Simplitec installed on my PC.
Below was the reply from Magix Support (on 3rd Dec, 2020)
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Dear Choo,
Thank you for your message. This problem is already known and will be fixed very soon. It has no effect on your program. The error is connected to your Update Notifier program and not Movie Edit Pro so at this point you can just ignore it. We are sorry for any inconveniences.
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Best regards,
MAGIX Software GmbH
Supportmanager
Berliner Str. 13
01067 Dresden - Germany