Many players encounter the “download the latest version of the launcher Restarting” and “Cancelled startup of pso2launcher.exe. The file will not be updated. Error :5” errors when they try to run Phantasy Star Online 2.

In this post, I am gonna tell you how you can fix this annoying Launcher error in Phantasy Star Online 2.

There is a one simple solution;

Fix 1: Replace pso_bin authorization entries (All of them)

• Start Phantasy Star Online 2 Launcher as usual. (If you see “Cancelled startup of pso2launcher.exe” error again, don’t click on “back” option. Let launcher run in the background).
  
• Navigate to PSO2 installation folder (Mostly “C:\PHANTASYSTARONLINE2“, if you did not change it)
• There must be a folder called “pso_bin“, you need to right-click on it and go to its Properties.
• Go to Security tab in the Properties window.
• Then Security > Advanced  and you’ll see a checkbox named “Replace all authorization entries“. Click on it.
• Apply the settings.
• Go back to Phantasy Star Online 2 Launcher, which is running in the background and click on “Back” option. When you do this, Launcher will close automatically (if not, close it manually).
• Now, do not open game Launcher this time and repeat “Replace all authorization entries” process.
• Lastly, go to the Steam client and Launch Phantasy Star Online 2.