Thanks for your suggestion!
Indeed, the HOME variable is: C:\Users\xxx\AppData\Roaming\SPB_Data.
I have read that this variable is not set by default.
I have no idea which tool has set this variable.
By default it should be set by the OS.
I think you can just delete the entry in your environment dialog, logout/login and it should be working again.
As another solution, you can explicitly pass the location of the workspace when starting Node-RED. Just pass the path with the parameter -u path/to/workspace.
The oldest created folder in "C:\Users\xxxx\AppData\Roaming\SPB_Data" is "cdssetup".
This folder is created by Orcad in 2017. So Orcad is a good candidate.
I just checked that Orcad is still working after removing the HOME variable.
I will keep an eye on the HOME variable.
Sorry to bring this thread back from the dead. I have just run into this same problem where my home environment variable was set to C:\Users\xxx\AppData\Roaming\SPB_Data. I am fairly certain that setting up windows subsystem linux (WSL) caused my home variable to be set to this location. I also have some data in this folder related to Orcad, but I believe that this is simply because Orcad copied these files over to the new home variable location on startup, not that Orcad changed the home variable. I know it was a few years ago but can you remember if you also had recently set up WSL?
Edit: it may actually be a combination of factors. The answer to this post on stack-exchange claims that Cadence Allegro may edit the HOME variable, though not exactly to the location we are seeing: Can't change Cygwin Home Directory from /SPB_Data - Stack Overflow
Anyway, just putting this here to try to help resolve the mystery. I was able to just set my HOME variable back to the default and have had no problems.