Valor Process Preparation Prerequisites installation failed error when trying to install client

After initiating the client installer, a notification for required Microsoft Redistributable package(s) is shown:

However, the installation fails with a following error:

There are two possible reasons for this error:

1. System already has a newer package installed or
2. System has the same package but different revision

Go to "Add and remove programs" and check the installed version of the package, then uninstall it, run the PP client installer again and then reinstall the newer version. PC restart is usually required after this.
If the revision is different than what the client installer tries to install, uninstall the current revision and run the PP client install again, with the redistributable packages. For example in PP 2310, following version is installed:

Compare that to the revision shown in the "Add or remove programs" list.