Good old,
mingw32-g++.exe: error: CreateProcess: No such file or directory
So, we have confirmed it is NOT a Code::Blocks based error.
The likely things are Windows setting, anti virus setting, or a MinGW GCC bug.
Edit:
Windows setting are security and permission issues; you might try using a Admin command window and see if error goes away.
anti virus setting: You might try turning off the AV software and see if error goes away.
MinGW GCC bug: search with the Windows version and mingw version for bugs.
Tim S.