This error occurs because a required Windows component is missing.

Download and install the Microsoft Visual C++ Redistributable Packages for Visual Studio 2013.

Here is a link to their site: https://www.microsoft.com/en-us/download/details.aspx?id=40784

Press the <Download> button, toggle on "vcredist_x64.exe", then press the next <Download> button. Once downloaded, install the downloaded EXE and reboot the system.