Got the solution for everyone:
At some point in time, I downloaded Microsoft Visual C++ Package for a work project - except this version is not the version that POTCO wants. Because I had installed the older version, then POTCO seen my older version, it didn't (couldn't) download and update it with the version it needed (Microsoft Visual C++ SP1 2008 is what it needs now).
For anyone who gets this error, close the game then download the C++ Files from microsoft and Run the file downloaded (link is below). Then run POTCO again, and you're in like flynn...
Microsoft C++ SP1 2008 Package
Good to see u 2 Nightwolf
