Error 1012: Version Update Required after logging in through launcher

I've registered a physical game key to my account and my mogstation account shows 30 days access and my correct character. When I start the launcher, no update happens and I am able to log in. Immediately after logging in (on the start screen), error 1012 is thrown saying a version update is required.

I've already had to completely re-install the game once due to the launcher icon spinning and never opening and I would prefer not to have to do it again.

I've searched multiple sites and cannot find anyone else experiencing this error. Alas, there is no file repair tool so I can't use that and the update file in the program folder simply launches the launcher and no update is installed...

Any help would be appreciated.

Coincidental or not, after entering my credit card information for automatic withdrawal, the game logged me in (despite have 30 free days listed already).

Edit: After not being able to login to my character, I restarted the client and the same error as in the OP occurred again. Credit card was coincidental and has no effect.