: Remove rules from C:\Windows\System32\AppLocker\ and clear the registry key HKLM\Software\Policies\Microsoft\Windows\SrpV2 , then reboot.
HKLM\SOFTWARE\Microsoft\Windows NT\CurrentVersion\Terminal Server\TSAppAllowList\Applications\PSMInitSession\ShortPath (e.g., C:\PROGRA~2\CyberArk\PSM\COMPON~1\PSMINI~1.EXE )
If you use for PSMConnect/PSMAdminConnect, you must rerun the CyberArk AppLocker script with the -connectionUserDomain parameter.
: AppLocker might be blocking the execution.