When I initialize the project it instantly closes and displays that image. Does anyone know how to solve it?

When you said to replace with a new update, should I reinstall unreal?

OK. I’ll do as you said.

That is the crash reporter. That means there is something corrupted in your files somewhere. try to delete the last asset you used in your project files and then replace it with the latest back up. You can find them in Files-Unreal Projects- yourproject name-saved-Backups

I did what you said, but the problem did not work.