Error "[Microsoft][ODBC Text Driver] Could not find installable ISAM" when connecting to .csv file, after upgrading MS Office version (4306338)

After upgrading to Office 2016 (Office 365), the following error occurs when connecting to CSV files:

[Microsoft][ODBC Text Driver]General error Unable to open registry key Temporary (volatile) Ace DSN for process 0x30ac Thread 0x1ef0 DBC 0x6fa8008 Text'.

[Microsoft][ODBC Text Driver] Could not find installable ISAM. 

Previous installation of Office was 2013 and successful CSV connections had been created.

Install Microsoft Access Database Engine 2016 Redistributable

Ensure the bit type matches the Toad bit type (help | about).i.e.

AccessDatabaseEngine.exe  (32-bit)

AccessDatabaseEngine_X64.exe (64-bit)