Looks like you need the Windows SDK. Or, for some reason, the Windows SDK is not included in the project.
I have just installed Unreal, and I had Visual Studios beforehand. I have installed VS Tools for Windows SDK and everything, but Compile fails and says:
The project could not be compiled. Would you like to open it in Visual Studio?
Running D:/Epic Games/UE_4.16/UE_4.16/Engine/Binaries/DotNET/UnrealBuildTool.exe MyProject Development Win64 -project=“D:/Epic Games/Documents/MyProject/MyProject.uproject” -editorrecompile -progress -NoHotReloadFromIDE
Performing full C++ include scan (building a new target)
Creating makefile for MyProject (no existing makefile)
@progress push 5%
Parsing headers for MyProjectEditor
Running UnrealHeaderTool “D:\Epic Games\Documents\MyProject\MyProject.uproject” “D:\Epic Games\Documents\MyProject\Intermediate\Build\Win64\MyProjectEditor\Development\MyProjectEditor.uhtmanifest” -LogCmds=“loginit warning, logexit warning, logdatabase error” -Unattended -WarningsAsErrors -installed
Reflection code generated for MyProjectEditor in 9.7322992 seconds
@progress pop
Performing 8 actions (4 in parallel)
[3/8] Resource PCLaunch.rc
[2/8] Resource ModuleVersionResource.rc.inl
Unhandled Exception: UnrealBuildTool.BuildException: ERROR: Failed to start local process for action: C:\Program Files (x86)\Windows Kits\8.1\bin\x64\rc.exe /nologo /D_WIN64 /l 0x409 /I “D:\Epic Games\UE_4.16\UE_4.16\Engine\Source” /DIS_PROGRAM=0 /DUE_EDITOR=1 /DWITH_DEV_AUTOMATION_TESTS=1 /DWITH_PERF_AUTOMATION_TESTS=1 /DUNICODE /D_UNICODE /D__UNREAL__ /DIS_MONOLITHIC=0 /DWITH_ENGINE=1 /DWITH_UNREAL_DEVELOPER_TOOLS=1 /DWITH_COREUOBJECT=1 /DUSE_STATS_WITHOUT_ENGINE=0 /DWITH_PLUGIN_SUPPORT=0 /DWITH_PERFCOUNTERS=1 /DUSE_LOGGING_IN_SHIPPING=0 /DWITH_LOGGING_TO_MEMORY=0 /DUSE_CHECKS_IN_SHIPPING=0 /DUE_BUILD_MINIMAL=0 /DWITH_EDITOR=1 /DWITH_SERVER_CODE=1 /DWITH_CEF3=1 /DUBT_COMPILED_PLATFORM=Win64 /DUBT_COMPILED_TARGET=Editor /DWIN32=1 /D_WIN32_WINNT=0x0601 /DWINVER=0x0601 /DPLATFORM_WINDOWS=1 /DDEPTH_32_BIT_CONVERSION=0 /DNDEBUG=1 /DUE_BUILD_DEVELOPMENT=1 /DORIGINAL_FILE_NAME=“UE4Editor-MyProject.dll” /fo “D:\Epic Games\UE_4.16\UE_4.16\Engine\Intermediate\Build\Win64\UE4Editor\Development\MyProject\PCLaunch.rc.res” “D:\Epic Games\UE_4.16\UE_4.16\Engine\Source\Runtime\Launch\Resources\Windows\PCLaunch.rc”
System.ComponentModel.Win32Exception (0x80004005): The system cannot find the file specified
at System.Diagnostics.Process.StartWithCreateProcess(ProcessStartInfo startInfo)
at UnrealBuildTool.ActionThread.ThreadFunc() —> System.ComponentModel.Win32Exception: The system cannot find the file specified
at System.Diagnostics.Process.StartWithCreateProcess(ProcessStartInfo startInfo)
at UnrealBuildTool.ActionThread.ThreadFunc()
— End of inner exception stack trace —
at UnrealBuildTool.ActionThread.ThreadFunc()
at System.Threading.ExecutionContext.RunInternal(ExecutionContext executionContext, ContextCallback callback, Object state, Boolean preserveSyncCtx)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state, Boolean preserveSyncCtx)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state)
at System.Threading.ThreadHelper.ThreadStart()
Unhandled Exception: UnrealBuildTool.BuildException: ERROR: Failed to start local process for action: C:\Program Files (x86)\Windows Kits\8.1\bin\x64\rc.exe /nologo /D_WIN64 /l 0x409 /I “D:\Epic Games\UE_4.16\UE_4.16\Engine\Source” /DIS_PROGRAM=0 /DUE_EDITOR=1 /DWITH_DEV_AUTOMATION_TESTS=1 /DWITH_PERF_AUTOMATION_TESTS=1 /DUNICODE /D_UNICODE /D__UNREAL__ /DIS_MONOLITHIC=0 /DWITH_ENGINE=1 /DWITH_UNREAL_DEVELOPER_TOOLS=1 /DWITH_COREUOBJECT=1 /DUSE_STATS_WITHOUT_ENGINE=0 /DWITH_PLUGIN_SUPPORT=0 /DWITH_PERFCOUNTERS=1 /DUSE_LOGGING_IN_SHIPPING=0 /DWITH_LOGGING_TO_MEMORY=0 /DUSE_CHECKS_IN_SHIPPING=0 /DUE_BUILD_MINIMAL=0 /DWITH_EDITOR=1 /DWITH_SERVER_CODE=1 /DWITH_CEF3=1 /DUBT_COMPILED_PLATFORM=Win64 /DUBT_COMPILED_TARGET=Editor /DWIN32=1 /D_WIN32_WINNT=0x0601 /DWINVER=0x0601 /DPLATFORM_WINDOWS=1 /DDEPTH_32_BIT_CONVERSION=0 /DNDEBUG=1 /DUE_BUILD_DEVELOPMENT=1 /fo “D:\Epic Games\UE_4.16\UE_4.16\Engine\Intermediate\Build\Win64\UE4Editor\Development\ModuleVersionResource.rc.inl.res” “D:\Epic Games\UE_4.16\UE_4.16\Engine\Source\Runtime\Core\Resources\Windows\ModuleVersionResource.rc.inl”
System.ComponentModel.Win32Exception (0x80004005): The system cannot find the file specified
at System.Diagnostics.Process.StartWithCreateProcess(ProcessStartInfo startInfo)
at UnrealBuildTool.ActionThread.ThreadFunc() —> System.ComponentModel.Win32Exception: The system cannot find the file specified
at System.Diagnostics.Process.StartWithCreateProcess(ProcessStartInfo startInfo)
at UnrealBuildTool.ActionThread.ThreadFunc()
— End of inner exception stack trace —
at UnrealBuildTool.ActionThread.ThreadFunc()
at System.Threading.ExecutionContext.RunInternal(ExecutionContext executionContext, ContextCallback callback, Object state, Boolean preserveSyncCtx)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state, Boolean preserveSyncCtx)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state)
at System.Threading.ThreadHelper.ThreadStart()
SharedPCH.Engine.cpp
d:\epic games\ue_4.16\ue_4.16\engine\source\runtime\core\public\windows\WindowsSystemIncludes.h(27): fatal error C1083: Cannot open include file: ‘intsafe.h’: No such file or directory