Okay just did more digging. This is not an issue with Dropbox Explorer like I thought earlier. I tested this with the old version 1.2.0 and I still get the same error.
Seems to be an issue with WPDM. I’ve updated to the just released 2.9.82 and got the same problem. I also noticed this thread in the Pro forums. Obviously can’t see what the issue is as I didn’t purchase pro.
dropbox repeated error 401 on dropboxusercontent.com