Error 1001. InstallUtilLib.dll:CorBindToRuntimeHost During LP360 Installation

Problem:

While installing LP360, the installation fails with the error, "Error 1001. InstallUtilLib.dll:CorBindToRuntimeHost (hr=0x80070003): The system cannot find the path specified."

Figure 1: Installation Error 1001. InstallUtilLib.dll:CorBindToRuntimeHost

Probable Resolution #1:

The machine doesn't have Microsoft .NET v4.8 or later installed. Or the installation on the machine is corrupt. You will need to resolve that before you can proceed with installing LP360. Reinstalling or repairing your .NET framework should fix the issue.