Please see the attached screenshot. Whenever I click the "Help" or "Find more extensions..." links Fiddler fails to open those links and pops up the message you see. You can also see though that Chrome is running in my task bar and working just fine. This is a newly built Win 10 machine with Fiddler 4 freshly installed.
The message in question is shown by Chrome, not Fiddler, and indicates that the interprocess communication between the launched executable and the existing instance is broken. This isn't a bug in Fiddler and will probably be resolved if you exit all chrome.exe processes.