Root Cause: Changing an Application folder on ARA but its workflow's name on AE is not updated correctly.
Update to a fix version listed below.
Fix Status: Released
Release Manager 7.0.0 - Available
Application Release Automation 6.0.3 - Available
Rename all component flows and folders manually in the AE ARA client.
Rename the application deployment flow to the previous name, then try it again and it should work fine.