Sharing this in case someone else has the same problem. TestComplete worked smoothly on my old build machine, after changing to a new PC I got “requires elevation” when starting TestComplete in FB. Took me several hours and tries to fix it, searching through application permissions and settings. Finally found the trick again when coming across some old note:
Simply start TestComplete, open Tools > Options > Engines > General, then disable option “Enable support for testing Windows Store applications”. Added this as a comment action to my project now in case I change machine again 