[EDIT (from the comments)]
Try to execute: ‘Engine\Build\BatchFiles\Build.bat’ by hand to receive a more descriptive error message. In most cases reported so far DLLs of DirectX were missing. If that is the case then an install of the DirectX redist solves the issues. Although the SDK of DirectX is installed you have to install the DirectX redist separately
[/EDIT]
Did you extract the optional requirements zip file (which is required for VS2012)?
It’s shortly mentioned in the Video and the readme.md contains this block of text:
Visual Studio 2012 is also supported, but you’ll need to make a code change and download the optional dependencies on the releases page. See the Unreal Engine documentation for more details about using older versions of Visual Studio.
I hope this helps you!