Thank you for posting, that fixed the issue for me.
I also found that the issue only affect C++ projects, I was able to create a Blueprint project.
I suspect that the UE5 Preview installer should be installing this, but is not, the kind of thing which might not show up in testing if the testing was done on a system that already had the Microsoft .NET Core 3.1 SDK v3.1.409 x64 installed.