Unhandled exception when building blank project: Version ("1.2") is not supported version

Manually changing the generated files to version 1.0 works for now.

insomnyawolf: I can confirm this issue is happening, you can workaround it by changing every "Version": "1.2", line in [ProjectDirectory]\Intermediate\Build\Win64\UnrealEditor\Development\[ProjectName] to "Version": "1.1", or "Version": "1.0", but as soon as you update and save those files, the version number becomes 1.2 again.

[Open PR here: https://github.com/EpicGames/UnrealEngine/pull/9067 which is marked as the solution to this].