Conflict with another shell (e.g., older V10 shell in the same folder). Fix: Ensure only one version of Waveshell exists in your VST3 folder. Delete the old Waveshell1-vst3 10.0-x64.vst3 after upgrading.
This indicates the version (Waves V11) and the architecture (64-bit).
On Windows systems, VST3 files follow a strict standardized pathing convention. C:\Program Files\Common Files\VST3