Yes, it might have something to do with the itch.io app if you are able to start the game directly. However, I assume you are successfully able to start other games!?
What you could try (not sure if that's the case?) to move the itch.io app/game to a directory with only ASCII characters. E.g. from "C:\Über\..." --> "C\Uber\...". Not sure if that's where your games reside? If you have only ASCII characters for the game's path, it's odd that that error message would happen however. Maybe try to talk with the itch.io team as well?