I was, while writing this reply, able to re-create this issue by updating from the previously mentioned 5.12.110.1006 version to 5.12.115.1001. After the update is finished, Bluestacks launches by itself, and the screenshots folder is then completely empty. I opened the exe, then pressed update, and while the necessary files were downloading, I closed the currently running instance of Bluestacks incase it would prompt me that the application is still running and conflict with the process. The update process was performed as following: I checked within the app if a new version was available and downloaded the updated version exe from the provided prompt.

To add to this, my Bluestacks installation directory was not left to the default one and was changed to a different drive when installing it originally, along with the screenshots folder which is inside the BlueStacks_nxt directory, before the update. If there is a log file that is saved somewhere that lists it, I could provide an accurate version number. Unfortunately I do not remember exactly which version I had before the update, but I believe it was some variation of 5.11. My current version and the one I have updated to is 5.12.110.1006 (see bottom of reply).

Free instal BlueStacks 5.12.115.1001