Eu encontrei o problema.
Se você tiver o Visual Studio instalado no servidor, este hotfix da Microsoft é a solução: link
Causa:
This issue occurs because Windows Server limits any directory from containing more than 1,000 subdirectories. Visual Studio 2012 installs more than 1,000 subdirectories in the following location: C:\Windows\Microsoft.Net Therefore, when the system state writer tries to back up the folder, the issue that is described in "Symptoms" section occurs.
Espero que isso ajude!