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Shadow Copy 0x80070005 Access Denied

There are different reason why you may get an access denied error 0x80070005. This particular one and the following fix is only applicable when the following is met:

The error is caused because of a bug in Windows Explorer and how it handles UAC. It is exactly the same reason as to why you get an access denied message when trying to access certain folders you should have access to. In these scenarios you have given the administrators group full control of the folder, you are a member of this group but you still get an access denied message. See the following UAC access denied for the cause and fix. It talks about Explorer having problems accessing certain folders. As shadow copies/previous versions are launched through Explorer it applies to this also.

NOTE: In the article some of the fixes say to modify the permissions on the folders. This is not possible with shadow copies as the folders are stored in a snapshot. Instead you will only be able to apply the fixes that modify UAC behaviour (solutions 3 and 4).