I have found that the c:users-----localhpUFTutt.config.LastQcConnection.xml was zero size. Recommend delete file and restart system and it should start working.
HPE reference documents:
Title : [Where is Application Lifecycle Management (ALM) connection info stored?](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00842044) Document ID : [KM00842044](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00842044)
Title : [How to restore an ALM connection on startup in Unified Functional Testing](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00712889) Document ID : [KM00712889](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00712889)
Title : [How to start HP UFT 11.5 without HP ALM/QC connection](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00624009) Document ID : [KM00624009](https://softwaresupport.hpe.com/group/softwaresupport/search-result/-/facetsearch/document/KM00624009)