Usually this error can be attributed to an issue related to DCOM and not running the ''additional information requirements'' wizard. Lately however I have seen an issue with the windows updates causing issues.
The January updates for Windows introduced the following issues:
**When calling CoInitializeSecurity, the call will fail if passing RPC_C_IMP_LEVEL_NONE under certain conditions.**
**When calling CoInitializeSecurity, the call may fail when passing RPC_C_AUTHN_LEVEL_NONE as the authentication level. The error returned on failure is STATUS_BAD_IMPERSONATION_LEVEL.**
You will need to check all of your Windows updates for this known issue, if the update has the known issue you will need to install the windows update that rectifies the issue. Some of the ''bad'' patches that I have found so far are: KB4058702, KB4056891, KB4056892, kb4056890 (there are probably others as well).
For example if I have patch kb4056890 I can go here: [https://support.microsoft.com/en-us/help/4056890/windows-10-update-kb4056890]
This page will tell me if the patch that I have introduced the ''CoInitializeSecurity'' issue if so I can look in the ''workaround'' column to have my IT department install the new patch that fixes the issue. Once the new patch is installed I should no longer encounter the ''Access is Denied'' error when running UFT from ALM.