.NET: Microsoft Technologies based on the .NET software framework. Runtime: An environment required to run apps that aren't compiled to machine language.
Growing frustrated with the scarce information on this unspecific error message, I decided to attempt the registry import from a machine with similar updates and .Net Framework versions as the troublemaking machine:
Open the registry editor Computer\HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\.NETFramework\ export the registry node on the working machine (as a backup) and troublemaking machine.
Delete the node on the trouble making machine (not all entries could be deleted) and import (File > Import) the keys form the functioning machine.
Restart
Notes:
I did not bother to compare the sets of registry entries but after the replacement. Despite my old collection of entries at was much larger, e.g. containing keys related to Microsoft Visual Studio, so far no issues.
Far from an expert, upon comparing my old and new entries using WinMerge it became apparent that especially the following keys related to version v4.0.30319 were missing: netfx-sku-entries.reg.txt
Maybe a simplistic guess which ought to be verified, but since SKU is a ‹string value that specifies the stock-keeping unit (SKU), which in turn specifies which .NET Framework release this application supports› the absence of those entries could have caused the error.
Good luck with your issue and let's hope Microsoft addresses this issue soon in a more professional way ;)