Adobe ME 2022 Error - Cannot create folder

Hello, I'm working on a new iMac (M1) and I cannot open AME. I keep receiving the same error message (see below image). I've tried some of the things I've read on other AME posts/discussions:
– I have all read/write permissions for my user

– I've uninstalled/reinstalled 3 times + restarted computer 2x
– I've tried creating a 'Presets' folder in '22.0' folder