EARCHZ,
UnrealBuildTool: Visual C++ 2015 toolchain does not appear to be correctly installed. Please verify that "Common Tools for Visual C++ 2015" was selected when installing Visual Studio 2015.
Run the VS2015 installer again and it should prompt you to either “Repair”, “Modify” or “Uninstall”. Select Modify and in the next screen find Common Tools near the bottom of the list. Check this box and continue through the modify process. Once this finishes you should be able to create projects normally.
Thanks!