That looks correct, and matches what's on my machine.
So Opus 12.26.1 should be talking to their DLL (fsscanwizardcontextmenu_64.dll) to ask if it wants to add any context menu items.
It's possible the DLL fails to load (which could be the antivirus itself blocking dopus.exe from opening its DLL; we've seen that happen once or twice) or has a problem on its side, or some other registry data needed to load the DLL is missing.
A Process Monitor log of both registry and filesystem activity when a folder is right-clicked might reveal something.