[iis-7.5] HTTP Error 404.3-Not Found in IIS 7.5

You should install IIS sub components from

Control Panel -> Programs and Features -> Turn Windows features on or off

Internet Information Services has subsection World Wide Web Services / Application Development Features

There you must check ASP.NET (.NET Extensibility, ISAPI Extensions, ISAPI Filters will be selected automatically). Double check that specific versions are checked. Under Windows Server 2012 R2, these options are split into 4 & 4.5.

Run from cmd:

%windir%\Microsoft.NET\Framework64\v4.0.30319\aspnet_regiis.exe -ir

Finally check in IIS manager, that your application uses application pool with .NET framework version v4.0.

Also, look at this answer.