What does the error “The application has failed to start because the application configuration is incorrect.” mean? (Fire Studio 5 and 6.2)

This error commonly arises when files are blocked during the Fire Studio installation. It occurs due to missing drivers from MS Visual C++ 2015. To resolve this issue, manually install MS Visual C++ 2015 by using the provided installation package (vcredist_x86.exe or vcredist_x64.exe) found in the Main folder of your Fire Studio installation.