This error message typically occurs if the TARGIT server is not running, or if the user running the TARGIT server has been changed.
Solution
First, open Task Manager and ensure that TARGIT Server is running.
Afterwards, run the following commands in an elevated command prompt:
NETSH http delete urlacl url=https://*:1301/
NETSH http add urlacl url=https://*:1301/ user=<domain>\<username>