It is not consistent (for me anyway). Sometimes I get the error, other times the list of files that can be downloaded is populated correctly. I had this error on both versions 4.0.2.0 and 4.0.5.0.
I installed GE 4.05 on a second machine and it's got the same issues as on my main machine. When syncing my FR15, I get sync errors and it keeps telling me that there is an update for the Fr15, even though there isn't one. My main machine is back on 3.0.29, but this way it will be easier to see when the 4.0 problems are fixed.