Right, I wrongly assumed you possessed the tools to decipher the file. I stand corrected. 😉
Yes, I tried the clean boot but had no luck either. Tried googling for KERNELBASE.dll, and although it can become corrupted, the System File Checker tool found no issues with any system files, and I'm not about to go downloading another kernelbase replacement from the various DLL sites. The other recourse here would be to try a Windows system file repair tool to completely replace them with their original/authorized versions.
ActivationUI.exe does seem to run without issue now, but it definitely seems to crash on TS4.exe and the event log clearly reflects that fact. However, this was not the case when this first started; it definitely crashed on ActivationUI.exe until one of the recent TS4 updates.
But, here's something interesting!
Out of anything better to try (and not sure why I didn't try this earlier), I decided to attempt running the game in Compatibility Mode for Windows 7. Lo and behold, it seems to work without issue! Although I don't exactly accept this the ultimate answer, as it is a workaround, it does mean the game is functional and able to be played.
I suspect this process is using a kernelbase.dll from the older Windows 7 version to run the game, but are there any major drawbacks to playing in Windows 7 compat. mode that you may know of?