48.38.07 Error Code on my HP Pagewide Enterprise Color 586dn

So am getting this 48.38.07 Error Code on my HP Pagewide Enterprise Color 586dn Printer.
I tried updating the firmware using a usb thumb drive with this firmware Version:

FutureSmart Bundle Version 5.1.0.1 - HP PageWide Enterprise Color MFP 586 Series FIRMWARE - version 2501517_000156

But even after the firmware update is done, the same error still persists so i don't know what to do now. I even Tried Previous Versions of the Firmware but still no luck.

Any Help is much appreciated.