The issue is caused by some files on your windows system being missing - you can fix it by doing the following
This error has popped up a few times with users installing TBC v5.40.
The issue is caused by a missing DLL file in the Windows System 32 folder.
The fix is to download and install the .exe files found in the link below
Click Here 5 for the link
More detail is provided at the above link. Download and install the files
vc_redist.x86.exe
vc_redist.x64.exe
For some PC’s the x64 version alone fixed the problem, on other computers they have had tio run both files to cure the issue.