Unreal does not support generation of projects in folders with an & character in it. By default it puts projects in your My Documents\Unreal Projects folder, however this folder is located in a folder named your Windows account name. If your account name has a & symbol in it, you must not use your My Documents folder.
Change your project folder location to somewhere outside of your My Documents folder as that folder is within a folder named your account name, and the & symbol is breaking it. Use something like C:\MyUnrealProjects