I have the same problem and, although the dialog specifies …\ProjectFiles\UE4.vcxproj, the error report seems to list all of the project files. I tried bleeds187 fix but there is no change. Can anyone think of something else that I could try? Thanks.
Edit: I’m not sure if this helps, but the UpgradeLog has the same error message for each of the project files: “The application which this project type is based on was not found.” I’m using Visual Studio 2013 Professional and have the required June 2010 DirectX runtime and dotNet 4.51 installed. Any ideas?
Edit 2: For anyone else with this problem, this answer on AnswerHub by joessu:
solved the problem for me (VCINSTALLDIR and VSINSTALLDIR were pointing at my VS2010 installation and they need to be pointing at VS2013).