Thanks for posting your question in the Microsoft Q&A forum.
If it is a Microsoft Office application file, when you encounter a corrupted file and see a prompt suggesting you open it in the "Text Recovery Converter," it typically means that the Office application attempts to recover text from the corrupted document. This process is part of the built-in recovery features in Microsoft Office.
Upon opening the file in the application using the File -> Open menu, if it detects a document that needs recovery, it should automatically display a Document Recovery Pane or a prompt to recover the file. If not, you can manually check for recovery options. ** Please don't forget to close up the thread here by upvoting and accept it as an answer if it is helpful **