I suspect that may be due to a bad custom stat. Near the end of the error in your screenshot there should be a space before the "AND" in ...cnt_p_raise>0AND ...", although I don't know exactly where that expression is coming from.
The first thing I would try would be to temporarily reset your custom stats file so that none of your custom stats are used. That will allow us to narrow down the issue.
To do that go to the following folder in Windows Explorer:
%LOCALAPPDATA%\PokerTracker 4\Data
Rename (do not delete) the file "StatDefinitionsCustomized.pt4".
Run PT4 again and see if you can now create the new database?
If not please attach the PokerTracker4.log file from %LOCALAPPDATA%\PokerTracker 4\Logs to a
Support Ticket with a link to this thread.
If you don't have logging enabled already then hold the Control key when you launch PT4, or use the "PokerTracker 4 (Logging Enable)" option through the Start menu to launch with logging enabled.