I had the same problem this morning, couldn't open my old projects but could launch Reaper to create a new project and no issues with this one.
When launched Reaper with shift, the sample rate was by default 48Khz/24 but my old project were in 44.1Khz/24.
This sample rate difference seemed to be the blocking point.
I went in the Preferences menu and in Device section I unchecked the box for "Request sample rate" which was set to 48000, closed Reaper and there was no more issue opening my old projects.
Just to mention it, I installed latest drivers for my soundcard (Focusrite Scarlett 6i6 V1) some days ago, and didn't work on Reaper before today.
Hope that helps
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