[4.15.3] Packaged Game fails to start (Project file not found?)

Current Version: 4.15.3
OS: Windows 10 64 bit

I’ve started a really simple project that so far is blueprint only.
I tested packing it, which worked without an error.
However, when i try to run it, it crashes.

Oddly enough, if i package it for shipping instead of development it works just fine.

Game log

For some reason uploading the output log here fails, so here is an alternative download:
Output log