Any chances of upgrading the Windows 7? Security updates and technical support for Windows 7 ended on 14 January 2020
Try to print from the command line (on non-PostScript printers only). Type Dir > LPT1 at the command prompt.
Try to print from a text editor, such as Notepad. If printing is successful, this confirms that the printer driver is correct and that the problem is caused by the application. If you can't print from Notepad, the problem is caused by the printer driver.
Have you checked the Event Viewer for any trace?
If you cannot find anything in Event Viewer I would suggest you use tools like Procmon to find the root cause for this behaviour.
Similar discussion here https://learn.microsoft.com/en-us/answers/questions/961209/windows-server-2019-standard-printing-0x00000709-e