WaveLab Pro 10.0.3 Won't open Audio Connection preferences

Yes, But make a backup, actually I think you could this: rename “CLSID” as “-CLSID” so that “CLSID” can’t be found (this is a key). Or rename the value that starts with “{…” as “-{…”

I can see on your picture that you have a huge amount of drivers. If some maps to hardware you don’t use anymore, erase the related folders. That could be a first try before renaming as above.