Getting error "Faulting module path: C:\Program Files\Quest Software\Toad for Oracle 16.1\ReactiveClientLibrary.dll" when opening Toad (4369033)

Getting error "Faulting module path: C:\Program Files\Quest Software\Toad for Oracle 16.1\ReactiveClientLibrary.dll" when opening Toad

Getting the error below when trying to start Toad for Oracle:

Faulting application name: Toad.exe, version: 16.1.53.1594, time stamp: 0x62b0da3f
Faulting module name: ReactiveClientLibrary.dll, version: 3.0.0.130, time stamp: 0x5fda1fd6
Exception code: 0xc0000005
Fault offset: 0x000000000000ead9
Faulting process ID: 0x4b7c
Faulting application start time: 0x01d8d89e818df187
Faulting application path: C:\Program Files\Quest Software\Toad for Oracle 16.1\Toad.exe
Faulting module path: C:\Program Files\Quest Software\Toad for Oracle 16.1\ReactiveClientLibrary.dll
Report ID: 96b59eed-8e0d-4012-b597-0f78799c122e
Faulting package full name:
Faulting package-relative application ID: