virtualbox.org

I just tried to hookup to a Shared Folder that I had already connected but it didn't work. Using a Win 10 Host.
First, I had to remove the Shared Folder, then reboot the 8.1 guest, then add it back manually and reboot again.

But as you can see in the attached screenshot, when I try to run things from the Shared Network drive, it pops up with this error.

VirtualBox shared folders present a very simplified file system implementation, just enough to read/write files from/to the guest. Many applications can error when using shared folders, because they expect advanced features, like file locking or access controls, which don't exist for shared folders.

I would use a a true network share (samba). Even in that case many programs will refuse to run correctly and have to be copied to the "local" hard disk.

PS. You could have used a more ... descriptive title, including the error and the VirtualBox version. Example: "Cannot run exe from shared folder with 5.1.4". Actually, is it 5.1.4? Or 5.0.26? Or 4.3.38? These are all the "latest updates" in the supported series, so we can't really tell what "latest update" means to you.