I figured out exactly what the problem is, but I don't have a solution for it. I suspect that my project did not get created correctly. I think RLWA32's response will help solve my problem. Castorix31, there is more to the story than what you said. That file and its sister files you refer to are found in windows/system32 and syswow64 folders. There is apparently a similar set of files that are debug and non-debug versions that reside in C:\Program Files\WindowsApps\Microsoft.VCLibs.140.00_14.0.32530.0_x64__8wekyb3d8bbwe folder and are appended with _APP.dll. I am including the release output of a BlankApp1 project and both outputs of my project to where mine fails.
In the BlankApp1 release output, the dlls can be seen being loaded. Pay particular attention to the folders in the outputs.
Then my debug output.
Then my release output.
Contrast that to both of my outputs and you never see those dlls being loaded. Then my program reports a dependent dll not found, in both. Both projects are of Blank App (C++/WinRT) type. Now to figure out the solution.