This is RPCS3’s way of saying: “The virtual PS3 system is still running, but the game/application inside it has frozen or crashed.”
This article is structured to help you diagnose and resolve the issue quickly. What Does This Error Mean? When using RPCS3 (the PlayStation 3 emulator for PC), the message "The PS3 application has likely crashed" appears when the emulated game or homebrew application stops responding unexpectedly. rpcs3 the ps3 application has likely crashed