Tecnomatix PS on TC, study manager empty or unhandled exception error

When loading PS on TC, empty or unhandled exception error shows up in white screen on study manager. 

Make sure TcMA preferences are set in Teamcenter:

TCMAHosting.PS.URL = http://<serverhost>:<gatewayport>

TCMAccessHosting.RAC.URL = http://<serverhost>:<gatewayport>

Starting Active Workspace version 6.2, preference ActiveWorkspaceHosting.PS.URL is deprecated. If it is the case, remove it to avoid issues. 

Details

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When a preference is empty, besides the white screen, the Process Simulate log shows this error:

ERROR Exception: UriFormatException; Message: 'Invalid URI: The URI is empty.'

Versions where issue was verified to occur:

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Active Workspace 6.3.2

Teamcenter 14.3.0.2

Process Simulate 2307