Same boat here.  Had Fences 4 working on this computer before, but needed to reload Win 10.  After clean reload of Windows, install Object Desktop, install Fences 4, Fences won't enable.  Tried purging, creating a new account, no dice.  Other Stardock apps work fine, just Fences 4.  Now I have to remember how 'normal' windows worked before being Fencified.

Here's a screen recording of what I get.  Essentially, I click it and nothing happens.  No errors, no event log entries.

https://ftuhjbnwlz.vmaker.com/record/xk65RwpHDNcAGIx0

My primary account is a windows admin account.  I tested before with creating a new admin account (mentioned in my original post), but no dice.  

Windows applied a few updates just a few minutes ago, and after rebooting, Fences 4 started working for me (I finally got the initial 'Should Fences create fences for you?' dialog box).  No idea which update may have sorted it for me, but it magically started working under my primary account.