How to fix the error "The application was unable to start correctly (0xc0000142)" on my Windows 11 PC?

Question

All the other solutions available on the internet seem to use command prompt or windows powershell to run some commands related to DLL files or use the system scan functionality i.e. the sfc.exe application. In my case, none of these options are working because it throws up the same error while opening cmd, powershell, sfc and many applications. I cannot install new software on my PC because opening an installer shows the same error.