This issue was resolved via Openspan ticket. There were stale StudioConfig.xml and RuntimeConfig.xml files and after correcting the former with appropriate URL, user was able to connect to Pega and get Relevant Records. Also, the config files were enabled by checking the runtime icon setting. This allowed visibility to "C:\Users\sandbox\AppData\Roaming\OpenSpan where the stale files were". After every uninstall/reinstall, these need to be cleared.