I can't create Unreal Engine project

When I select C++ in project defaults and click generate, I get the following error and it is not generated.

Running C:/Program Files/Epic Games/UE_5.0/Engine/Binaries/DotNET/UnrealBuildTool/UnrealBuildTool.exe -projectfiles -project=“C:/Users/Person/Documents/Unreal Projects/Test/Test.uproject” -game -rocket -progress
A fatal error occurred. The required library hostfxr.dll could not be found.
If this is a self-contained application, that library should exist in [C:\Program Files\Epic Games\UE_5.0\Engine\Binaries\DotNET\UnrealBuildTool].
If this is a framework-dependent application, install the runtime in the global location [C:\Program Files\dotnet] or use the DOTNET_ROOT environment variable to specify the runtime location or register the runtime location in [HKLM\SOFTWARE\dotnet\Setup\InstalledVersions\x64\InstallLocation].

The .NET Core runtime can be found at: