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Anyone running the Plex Service under user SYSTEM should switch to using other user account
It was never advisable to run it as SYSTEM
In the latest beta and public releases we fixed a security vulnerability and the fix was not to allow the process for the Plex Updater Service to pick the location for the logs (local app data) from the registry. The Updater Service runs under SYSTEM. At the same time as part of this fix, we ensured Plex processes running under SYSTEM would not pick the path from the SYSTEM registry area under .DEFAULT
If you are running PMS under the SYSTEM account, please change the Plex Service to run under a different account - leaving only the Plex Updater Service to run under SYSTEM