4.14 seems to be unable to open Visual Studio 2015. Clicking on the parent actor link or creating a new c++ class does not open visual studio unless you run the launcher using ‘run as administrator’. And only seems to want to open Visual Studio ‘15’.
In the editor you should be able to navigate to Edit → Editor Preferences → General ->Source Code. From here you can select which version of Visual Studio is your preferred version to open / use.