Minecraft does not launch, error 1114

Just updated Java as believe older version could be responsible for low fps since Windows 10 update, however game does not load - Error message mentions 1114, following found in game output.

[21:28:25] [Client thread/INFO]: Setting user: Jumpoletz
[21:28:25] [Client thread/INFO]: (Session ID is token:9a84644c2a7b41e390ba1b886476b462:56a83333d53f41c3a67fc349662284cf)
[21:28:27] [Client thread/INFO]: LWJGL Version: 2.9.4
Java HotSpot(TM) Client VM warning: Using incremental CMS is deprecated and will likely be removed in a future release