I think you should look at the [TextData] field.
Based on Microsoft doc here:
https://docs.microsoft.com/en-us/analysis-services/trace-events/errors-and-warnings-events-data-columns?view=asallproducts-allversions
it should contain the the text data associated with the error event, like the error message.
please, try this against your trace file.
SELECT xe_file.[FILE_NAME] AS [filepath]
,[ApplicationName] = xe_file.xml_data.value('(/event/data[@name=''ApplicationName'']/value)[1]','[nvarchar](128)')
,[BinaryData] = xe_file.xml_data.value('(/event/data[@name=''BinaryData'']/value)[1]','[varbinary](max)')
,[ConnectionID] = CAST(xe_file.xml_data.value('(/event/data[@name=''ConnectionID'']/value)[1]','[nvarchar](128)') AS INT)
,[CPUTime] = CAST(xe_file.xml_data.value('(/event/data[@name=''CPUTime'']/value)[1]','[nvarchar](128)') AS bigint)
,[CurrentTime] = CAST(xe_file.xml_data.value('(/event/data[@name=''CurrentTime'']/value)[1]','[nvarchar](128)') AS DATETIME2)
,[DatabaseName] = xe_file.xml_data.value('(/event/data[@name=''DatabaseName'']/value)[1]','[nvarchar](128)')
,[Duration] = xe_file.xml_data.value('(/event/data[@name=''Duration'']/value)[1]','[nvarchar](128)')
,[EndTime] = xe_file.xml_data.value('(/event/data[@name=''EndTime'']/value)[1]','[nvarchar](128)')
,[Error] = CAST(xe_file.xml_data.value('(/event/data[@name=''Error'']/value)[1]','[nvarchar](128)') AS INT)
,[EventClassId] = CAST(xe_file.xml_data.value('(/event/data[@name=''EventClass'']/value)[1]','[nvarchar](128)') AS INT)
,[EventSubclassId] = CAST(xe_file.xml_data.value('(/event/data[@name=''EventSubclass'']/value)[1]','[nvarchar](128)') AS INT)
,[IntegerData] = CAST(xe_file.xml_data.value('(/event/data[@name=''IntegerData'']/value)[1]','[nvarchar](128)') AS INT)
,[JobID] = CAST(xe_file.xml_data.value('(/event/data[@name=''JobID'']/value)[1]','[nvarchar](128)') AS INT)
,[NTCanonicalUserName] = xe_file.xml_data.value('(/event/data[@name=''NTCanonicalUserName'']/value)[1]','[nvarchar](128)')
,[ObjectID] = xe_file.xml_data.value('(/event/data[@name=''ObjectID'']/value)[1]','[nvarchar](128)')
,[ObjectName] = xe_file.xml_data.value('(/event/data[@name=''ObjectName'']/value)[1]','[nvarchar](128)')
,[ObjectPath] = xe_file.xml_data.value('(/event/data[@name=''ObjectPath'']/value)[1]','[nvarchar](128)')
,[ObjectReference] = xe_file.xml_data.value('(/event/data[@name=''ObjectReference'']/value)[1]','[nvarchar](128)')
,[ObjectType] = CAST(xe_file.xml_data.value('(/event/data[@name=''ObjectType'']/value)[1]','[nvarchar](128)') AS INT)
,[ProgressTotal] = CAST(xe_file.xml_data.value('(/event/data[@name=''ProgressTotal'']/value)[1]','[nvarchar](128)') AS INT)
,[ServerName] = xe_file.xml_data.value('(/event/data[@name=''ServerName'']/value)[1]','[nvarchar](128)')
,[SessionID] = xe_file.xml_data.value('(/event/data[@name=''SessionID'']/value)[1]','[nvarchar](50)')
,[SessionType] = xe_file.xml_data.value('(/event/data[@name=''SessionType'']/value)[1]','[nvarchar](128)')
,[Severity] = CAST(xe_file.xml_data.value('(/event/data[@name=''Severity'']/value)[1]','[nvarchar](128)') AS INT)
,[SPID] = CAST(xe_file.xml_data.value('(/event/data[@name=''SPID'']/value)[1]','[nvarchar](128)') AS INT)
,[StartTime] = CAST(xe_file.xml_data.value('(/event/data[@name=''StartTime'']/value)[1]','[nvarchar](128)') AS DATE)
,[Success] = CAST(xe_file.xml_data.value('(/event/data[@name=''Success'']/value)[1]','[nvarchar](128)') AS INT)
,[TextData] = xe_file.xml_data.value('(/event/data[@name=''TextData'']/value)[1]','[nvarchar](max)')
FROM (
SELECT [FILE_NAME]
,[XML_DATA] = CONVERT(XML, EVENT_DATA)
FROM sys.fn_xe_file_target_read_file(@trace_filepath, NULL, NULL, NULL)
) AS xe_file
;