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As a workaround:

  1. Open Services.msc
  2. Stop Trend Micro Control Manager and Trend Micro Management Infrastructure services.
  3. Open Windows Explorer and Navigate to Trend Micro Control Manager installation folder.
  4. Backup and edit "\Trend Micro\Control Manager\SystemConfiguration.xml" and "\Trend Micro\Control Manager\WebUI\WebApp\App_Data\SystemConfiguration.xml".
  5. Find "m_strDestUNC_username" and "m_strDestUNC_password", remove the value then save.

    Find and remove values

    Click image to enlarge

  6. Start TMCM services. It will show that the remote UNC authentication credentials are removed.

    Remote UNC authentication credentials are removed

    Click image to enlarge