I was able to work out an effective solution (thanks to the full error text you asked about, which provided a clue). I use a different install path for projects outside of Studio's '\media' folder. With the introduction of the latest update, something appears to have changed with plugin paths. Once I kept duplicate copies of everything in two locations, I could launch a project without the commands.txt error. I'm still getting strange variable errors as though globals and locals are not recognized properly, but that's easier to sort out and apply redundant values/declarations to work around for the time being. As such, I can work around the remaining issues and get things to compile and run again.
As noted in my other forum post, this all did start about the time I installed the VSCode extension to run a few tests. So perhaps that might be related to effects on Studio's original functionality.