Portable mode not working since the latest minor updates

In portable mode Flyspeed SQL doesn't start at all.

I tried the latest minor updates and all of them have the same issue.

I had to rename "FlySpeed SQL Query.ini" so that the program could start. But if I set the setting storage location back to 'Program exectuable folder (Portable mode)' and then quit, Flyspeed SQL doesn't start again.

This is happening with 3.4.9.3 now.

I have to roll back to 3.3.4.0, as this version has no problem in portable mode.