iCloud for Windows 10: "you do not have enough storage on your PC to download these photos and videos."

I'm unable to download my iCloud Photo Library. The iCloud for Windows 10 app gives the following error when attempting to download the photo library, "you do not have enough storage on your PC to download these photos and videos." Does anyone have a solution?

This error message is also received on a clean installed version of Windows 10. iCloud app is downloaded from the Windows App store. Running latest iCloud version (ver 10.9) on latest Windows 10 (ver 1909 build 18363.535).

This problem has persisted with every up-to-date version of iCloud for Windows 10 for the past 6 months. I have plenty of storage (several TBs) on the hard drive set as the save location for the photo library.