Action is not performed – Object recognition failure after OS upgrade

I understand you only upgraded your windows, TestComplete version did not change.
If you create a new project to test with, would it work?
Any older windows version station to try with to determine is your project still works?

After Windows upgrade you may loose any tweak you had to previously do, follow the recommendation  https://support.smartbear.com/testcomplete/docs/general-info/configuring/index.html  in specific user permissions

Also pay specific attention to running application in the background https://support.smartbear.com/testcomplete/docs/general-info/configuring/windows-specifics.html#background