The application was unable to load a required virtual machine component.
I already made a video how to fix by removing a certain Windows update KB3045999. Now it seems there is another Windows update that breaks this feature once again, and as one of the viewers suggested, you should remove this one KB3022345. So, either remove it manually from Control Panel, or use the same command in the elevated command prompt but specifying the new update number, to uninstall the KB3022345 update.