Component Services Error Log - SQL Server Distributed Replay Client
Solution 1:
Credit for answering this goes to Microsoft Support.
So the issue was due to the fact that the NT Service\SQL Server Distributed Replay Client user did not have local activation permissions in the Component Services dialog. The original error message clearly stated that I needed to give local activation permissions to the SQL Server Distributed Replay Client, but it seems that I gave permissions to SQL Server Distributed Replay CONTROLLER instead.
