Thank you for your quick response! I found a quick workaround to this problem! It is indeed a network issue. What I did was to connect my mobile tethering, and run the launcher using that, and it started downloading the correct file version. Once the download started, I instantly switched to my normal network (Since i dont have much data left in my mobile network) and downloaded the remaining files. Once that download is done, I made a copy of those files into a new directory, and just to confirm, reran my launcher using my normal network, and it rolled back to the older version. I guess what I am about to do now is to open the game using WindowsPlayer.exe (from the correct updated version 0.4.138 of files i had copied out) and not the launcher, this way I can continue playing on my normal network.
Regarding the above post, I had tried almost all the mentioned fixes, and it had not worked Also, like i mentioned earlier, it seems as if I have to play using the direct executable for the time being, until my network decides to work fine. Thank you very much to everyone who had helped :)