Try one of the following:
1. If you're not using the tsgMSCDEX plugin, get rid of it entirely. If you're still using it for some reason, you will notice that it consists of 3 files. Make sure the main file (cdrTSGMscd.dll) is in the plugin directory, but the other two files should be in the epsxe main directory.
2. If that still doesn't work, delete the plugins you don't use in the plugins folder...it could be caused by having too many plugins.