Hans van der Meer via ntg-context schrieb am 22.11.2023 um 20:55:
When \externalfigure could not find the file it used to graciously place a rectangle kindly telling the user that the file has not been found.
But now, however, it seems the default in this case is a crash. Very annoying in comparison with the earlier behaviour.
I might make a mistake, but the MWE is as simple as can be.

Can you update your ConTeXt installation and check if the error remains,
I tries to your example on my machine (Windows 11) and wasn't able
to reproduce the problem.

Wolfgang