When you attempt to create a new Restore Point, the error 0x80042308 may pop up and the restore point isn’t created:
The restore point could not be created for the following reason:
The specified object could not be found. (0x80042308)
Please try again.

Also, the same error code appears when you create a backup using the built-in Windows Backup and Restore tool. It reports the following error:
The backup did not complete successfully. A shadow copy could not be created for the following reason: The specified object was not found. (0x80042308)
And the failed backup task records an event log entry with ID: 4100.
Log Name: Application
Source: Windows Backup
Date:
Event ID: 4100
Task Category: None
Level: Error
Keywords: Classic
User: N/A
Computer:
Description:
File backup failed because a shadow copy could not be created. The system might be low on resources. The error is: (0x80042308).
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