DgiVecp is the Virtual ECP Parallel Port (IEEE 1284) Service. It's used mainly with printers to simulate a parallel port. I don't know for sure, but I suspect it's for older systems to allow them to work with networked printers by connecting the printer
through this virtual parallel port. I've never found a use for it on modern versions of Windows.
So, after years of having the same problem, I finally tracked down that it was my Samsung printer that was installing this service, however, like yours, my system couldn't actually find it.
It seems that many different printer drivers install this service, however, since it's not actually starting, that means that your system, like mine, doesn't actually have any use for it! (Assuming that your printer is working OK.)
If so, then you can just disable or delete the service. I would suggest disabling it first, just to be safe.
To do so, open a command window as Administrator and type the following:
sc config dgivecp start= disable
Make sure that there's a space between the "=" sign and the word "disable". (It's easiest to just cut and paste this line.)
After that, reboot your system and start checking your Event Viewer to see if the error message persists.
If you decide to just delete the service, as I did, then type the following at the command line:
sc delete dgivecp
Hope this helps!