I ran into this same issue this morning. After month's of running smoothly, one of my python scripts failed with the following Error Code:
ERROR 000055: Cannot create a Query Table for this workspace
Failed to execute (MakeXYEventLayer).
The problem ended up being the data type of the lat long fields in my table. They were of the 'Text' Data type rather than a Double...once corrected, the tool worked! It was very strange, I tried to run the Make XY Event Layer tool manually with the table and ArcGIS Pro automatically populated the X and Y fields for me with the correct fields (but of the wrong data type). Not sure why it took in a text parameter if the tool doesn't allow text for the inputs...
Solution was to change my schema.ini file to bring these fields in as Double and that fixed everything.
Esri may need to consider making that a restriction on the inputs to only accept numeric data types for these parameters in the tools GUI and consider altering the error code to be more data type specific rather than workspace specific. I spent a good part of an hour chasing down a workspace issue when it ended up being a simple data type conversion. Hope this helps!
Thanks,
Robert