Does anyone else get this message when pressing the launch button? :
LogStats:Warning: MetaData mismatch. Did you assign a stat to two groups? New //STATGROUP_Threads//FLauncherTask///Thread_884_0///####STATCAT_Advanced#### old //STATGROUP_Threads//FLauncherTask///Thread_20b8_0///####STATCAT_Advanced####
This shows up in the log file and the Launch Fails.
Make sure to report this on answerhub. 
https://answers.unrealengine/
-have you already tried to launch it with the uproject file in the project folder?
,
I left all the files in their default location except on my D drive instead of C. My root folder that was selected was “Unreal Projects” and the project was still called “KiteDemo”. No idea what’s causing the error.
My system is:
i7-5960X (Fastest i7 on the market)
32 gigs of ram.
Windows 8.1