"Unable to modify BDE settings" while attempting to convert 2012 database to 2017

We just purchased TimeSlips 2017. We have been using TimeSlips 2012 since it was new and unfortunately cannot locate our product code, so with our new computers we also had to buy a new version of TimeSlips. I was going to do the upgrade this weekend to minimize downtime, but cannot proceed because I get an error in the database conversion process. It does not matter whether I am using a backup file from TimeSlips 2012 or the database folder from TimeSlips 2012. The same thing happens either way.

TimeSlips 2017 goes through the process of "Restoring Database" and then it closes and opens the Sage TimeSlips Database Conversion window. In short order, that window displays this information:

Initializing...
Installing BDE
Updating BDE settings
Unable to modify BDE settings
Completed: 5/28/2017 5:51:47 PM
Database failed to convert.

What is the next step to resolve this problem?