Hello,
I’ve encountered the same issue. The version of zen.exe that is fetched by setup.bat in my environment is 5.5.7.0.
I haven’t checked the source code, so I could be wrong, but I assume there’s some code intended to check whether the project exists on the remote server when executing zen.exe oplog-export. However, it seems to check whether the project exists on the local Zen instance instead.
I tried using the zen.exe version 5.6.7.0 from GitHub, and it works when I run the build graph (without --force-update). So maybe this is a known and already fixed issue. However, I couldn’t find an elegant way to automatically fetch the latest Zen binaries. I had to use a workaround with external scripts.