Luckily, it’s very easy to resolve. Run the follow command from an elevated command prompt:
%windir%\Microsoft.NET\Framework64\v4.0.30319\aspnet_regiis.exe -i
If you’re on a 32-bit machine, you may have to use the following:
%windir%\Microsoft.NET\Framework\v4.0.30319\aspnet_regiis.exe -i