Reinstall .Net and try again.
If no, remember to use the original files come with emulator to the first test.
I suggest to run as admin sometimes because some systems have some file access restrictions and make problems to save logs, etc
Its to discard because some times are appeared this problem.
Its tested on WinXP, Win7, Win8, Win10 and works fine on all.
Uses the lastest compatible .Net version of WinXP to give the oportunity to someone have a WinXP to test it and because no need new framework things to run this server.