To fix the issue, do the following:
Check if Microsoft Visual C++ Redistributable 2019 x86 and x64 are BOTH installed. If Microsoft Visual C++ Redistributable 2019 x86 and x64 are not installed, please install/reinstall them.For reference: Visual C++ Redistributable for Visual Studio 2019
If you encounter an error when installing the Microsoft Visual C++ Redistributable, kindly check with Microsoft support on why it cannot be installed.
If the issue persists even after installing/reinstalling the Microsoft Visual C++ Redistributable, please contact Trend Micro Technical Support for assistance.