Here is the Easiest Step-by-Step Troubleshooting for you! :)
You have Only to Take the Time of Reading and Carefully Executing Instructions…
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You Need a Second Disk to Set as the New Scratch…
(For example an External Drive or a Drive Partition).
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Hold down these Keystrokes while Starting:
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On Mac Hold down Cmd+Alt and Wait Until “Scratch Disk Preferences” Popup
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On Windows Hold down Ctrl+Alt and Wait Until “Scratch Disk Preferences” Popup
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Set a New Scratch Disk
Now you are free to Change the Disk and Successfully Launch Photoshop!
How to Save Image as ICO on Photoshop CS for Mac and Windows:
How to Save As ICO on Photoshop