Usually the question is whether the OS has a new enough .NET Framework for Duplicati to use.
.NET Framework 4.8 looks like Microsoft’s latest and greatest, and you can have it, but do you?
Duplicati on Windows Server 2016 .NET framework Error is how to tell (they don’t make it easy).
Your stack trace seems unique (at least Google can’t find one like it), so this may take hunting…
I suppose you could also give some better logs, e.g. About → Show live → Information or set up
log-file=<path> log-file-log-level=information (and might go higher later) to gather context for this.