I have Microsoft Studio Community 2022 (17.12.3) with MSVC 14.38 installed, I can build and run fine when games build with Unreal 5.4.4, but when I build with Unreal 5.5.1 it requests to install the Microsoft Visual C++ Runtime, but even after pressing “yes” it keeps asking every time.
I am having this same error, the longer error you posted. It is only happening in shipping mode. And it is weird, because it just started happening when a previous package in shipping mode worked earlier today.