After upgrading to the new version of the Screen Recorder, you might receive a "Sorry, we've encountered a security error and must exit" message, as shown below.

This can be resolved by clearing the contents inside the FusionUniversal-v2 folder on your local machine and relaunching the Screen Recorder.
Clearing the folder on Windows
To clear the folder on Windows:
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Go to This PC.
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Click the View tab and select the Hidden items checkbox.
A list of hidden folders is revealed.
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Open the AppData Folder.
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Open the FusionUniversal-v2 folder. This folder is in the following directory: C:\Users\[username]\AppData\Local\FusionUniversal-v2.
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Clear all contents from inside the FusionUniversal-v2 folder.
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Relaunch the Screen Recorder.
Clearing the folder on Mac
To clear the folder on Mac:
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Press Command + Spacebar to open Spotlight Search.
The Spotlight Search bar appears. -
In the Spotlight Search bar, enter ~/Library/FusionUniversal-v2.
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Select the FusionUniversal-v2 folder from the list.
The folder opens.
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Clear all contents from inside the FusionUniversal-v2 folder.
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Relaunch the Screen Recorder.