Restore Validation Failed. Class not register. (4317036)

Getting the following error during verify recovery project settings: "Restore Validation Failed. Class not register" (screenshot attached).

You may try the following steps:

1) Install the C++ redistributable on the target machine (on the DC). This installation will not trigger a server reboot. Download link:  https://aka.ms/vs/16/release/vc_redist.x64.exe

2) Register the COM server by opening a windows command prompt and run the regsvr32 "C:\Program Files\Common Files\Quest Shared\Recovery Manager for Active Directory\BackupManager64.dll"

3) Run the following scripts in powershell and make sure there is no errors:

$clsid = New-Object Guid 'ab0139dd-bc6f-4e2a-a6ef-37474eb77a48'

$type = [Type]::GetTypeFromCLSID($clsid)

$backupMgr = [Activator]::CreateInstance($type)

$cataloguer = $backupMgr.CreateCataloguer2()

Once the above is done, you may run Verify Project Settings in the Forest Recovery Console to confirm that it completes successfully in the domain controller in which we tried the above steps. If successful, you may try the same steps in all affected domain controllers in case there are more than one affected.