Found the root cause. For those with same error message, this may help you.
As mentioned I install on old win 7 netbook version 3-64bit and 4-32bit in different folder. Also the related tar files are stored, as I like to do some investigation.
As long as the environment variable CALIBRE_DEVELOP_FROM was not set, the icon start version 3 resp. 4 (only one could run). But when it was set to Calibre 3 src, start of calibre 4 show error message above. And the other way around.
Knowing that, this is not an issue anymore for me.
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