I just had this error pop up and found a link on YT with the answer. My disc files had the extensions .bin and .cue, After importing into Launchbox it defaulted to running the .cue file. Launchbox needs to be configured to run the .bin file. Right Click on the game, choose Edit Metadata/Media to open the game settings. Then go to Launch --> Rom File and browse to your game directory and choose the file that ends in .bin. And, that was that. Fixed.