IBM Planning Analytics Administration Agent Incorrect function

Planning Analytics 2.0.6
Microsoft Windows 2016 server
Planning Analytics Administration Agent version

When starting the PAA Agent in windows after change from local system to a windows service account, you get a error. The service account works on the other IBM Cognos TM1 services, only the IBM Planning Analytics Administration Agent that does not start.

Error msg in Windows event log can be:
The IBM Planning Analytics Administration Agent service terminated with the following service-specific error:
Incorrect function.

Check that the Windows Service account is local administrator on the Planning Analytics server.
The PA Agent needs more local rights to read the files in folder D:\Program Files\ibm\cognos\tm1_64\paa_agent, than the other IBM Cognos TM1 service does.

You can find the message.log file here D:\Program Files\ibm\cognos\tm1_64\paa_agent\wlp\usr\servers\kate-agent\logs, that can contain more error messages.

The python code that can give some of the message is in folder; d:\Program Files\ibm\cognos\tm1_64\paa_agent\wlp\usr\servers\kate-agent\kateagent\scripts\

More information:

Instructions to configure and start PAA Agent:

1. Open Windows “Services” desktop application
2. Stop “IBM Planning Analytics Administration Agent” service, if running
3. Navigate to <PA install directory>\paa_agent\wlp\usr\servers\kate-agent
4. Open the file in a text editor
5. Set the full path of directory containing TM1 databases data directories to SERVERS_DIR. Multiple paths must be separated by semicolon.
E.g. SERVERS_DIR=C:\tm1\samples\tm1\;C:\prod\servers\
6. Save and close the file
7. Start “IBM Planning Analytics Administration Agent” Windows service
8. PAA Agent is now ready to use