The problem was originally reported here.
In short, Chaos Group changed the name of the token between v2 and v3, and that broke the submitter. I am trying to get a license for v4 to see if it is still the same or if it changed again.
I believe that the error only occurs if the option to submit external files to the Repository is enabled, or the pre-cache to AWS option is checked (both under the “Assets” tab). If you are not collecting external references to submit with the job, and you are not submitting to AWS Portal, you can probably uncheck the “Pre-Cache…” option to avoid the error.
The current workaround if collection of assets with the job is required is to expand the symbolic name from a $token to an actual UNC or mapped drive path in the Phoenix settings. Would that work for you in the short term?
The fix required by the SMTD submitter is not exactly trivial. However, if there was a fix, all you would need to do would be to drop the new script in the Repository folder - no need to reinstall a whole Repository to fix a bug…