Expand variable on startup fails

I noticed in my debug log that the expand variable operation fails when it executes. Here are some lines in the log from various locations.

(lib/rtl/registry.c:362) RTL: Expand variables for %SystemRoot%\system32\cmd.exe failed - Status == c0000023 Size a8 > 7e <e>
(lib/rtl/registry.c:362) RTL: Expand variables for %SystemRoot%\bin;%SystemRoot%\system32;%SystemRoot% failed - Status == c0000023 Size f4 > ac <14>
(lib/rtl/registry.c:362) RTL: Expand variables for %SystemRoot%\system32 failed - Status == c0000023 Size a0 > 7e <6>