Had you removed anything in that temp folder earlier in the same PowerShell session?
If so, exit the PowerShell session and try again with a new session.
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I get this error msg, when trying to connect Security & Compliance PowerShell
Could not find a part of the path 'C:\Users\username\AppData\Local\Temp\tmpEXO_5ewf3wn0.oir\exchange.format.ps1xml'.
At C:\Program
Files\WindowsPowerShell\Modules\ExchangeOnlineManagement\3.6.0\netFramework\ExchangeOnlineManagement.psm1:762 char:21
throw $_.Exception.InnerException;
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I have this version of module
Name : ExchangeOnlineManagement
Version : 3.6.0
InstalledLocation : C:\Program Files\WindowsPowerShell\Modules\ExchangeOnlineManagement\3.6.0
Had you removed anything in that temp folder earlier in the same PowerShell session?
If so, exit the PowerShell session and try again with a new session.