Access to the path 'C:\ProgramData\Microsoft Team Foundation Local Workspaces\9bf12291-6298-4274-bb09-96727b2a1f71\PEI;f7e7feef-b984-486d-9c27-a54cba0335a2\properties.tf1' is denied.

https://social.msdn.microsoft.com/Forums/vstudio/en-US/aa9b4e0a-ff18-490d-af95-b7512e5cf354/access-is-denied-messages-in-output-window-from-tfs-preview?forum=TFServic

signed in Microsoft account does not have enough access right to the above folder.