I don’t know this program, but just entering sxstrace.exe doesn’t get you much information because it needs some parameters.
This problem is however not related to SNAP or sen2cor, but indicates missing libraries or drivers.
Depending on your operating system some of these could help to find a solution:
- https://help.ableton.com/hc/en-us/articles/209770865-Error-Message-Side-by-side-configuration-is-incorrect
- https://answers.microsoft.com/en-us/windows/forum/windows_7-pictures/this-application-failed-to-start-because-side-by/7673bf12-87c2-48ca-b5ae-b8aa85e295dc
- https://knowledge.autodesk.com/support/3ds-max/troubleshooting/caas/sfdcarticles/sfdcarticles/The-application-has-failed-to-start-because-its-side-by-side-configuration-is-incorrect.html