VSS Error 8193 when backup starts on Windows Server (2008 SP2)

Error message:

Volume Shadow Copy Service error: Unexpected error querying for the IVssWriterCallback interface.  hr = 0x80070005. This is often caused by incorrect security settings in either the writer or requestor process.

Operation:
Gathering Writer Data

Context:
Writer Class Id: {e8132975-6f93-4464-a53e-1050253ae220}
Writer Name: System Writer
Writer Instance ID: {f1e60694-d50f-42d1-a426-98503c0b29ae}

Start an elevated command prompt and type: vssadmin list writers

You get the following error for the specified writer: Non-retryable error

Start the registry editor and go to the following key:

• HKey_Local_Machine\Software\Microsoft\Windows NT\CurrentVersion\ProfileList
• Backup the registry
• Delete any .bak value
• restart the server
• Check if the issue is fixed

Any related comments, questions etc. welcome.