In this case, your redistributables are missing or have not been installed correctly.
MANUALLY INSTALL REDISTRIBUTABLES
Preparation: Make sure the system is clean and cleared of old software remnants
1) Uninstall the game
2) Verify Microsoft Visual C++ 2015 Redistributable (x86) or Microsoft Visual C++ 2017 Redistributable (x86) or Microsoft Visual C++ 2015 - 2019 Redistributable (x86) are not installed
- Open the Control Panel and click on Programs and Features.
- Uninstall any programs named "Microsoft Visual C++ [Year]] Redistributable"
3) Verify there are no entries in the registry for the respective Redistributables:
- Press WIN key, type regedit, press enter
- go to HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\Valve\Steam\Apps\CommonRedist\vcredist
- if there is a folder named or including 2015, 2017 or 2019, delete it
Option A: Assure Steam Auto install:
0) Follow steps 1 - 3 from above
4) Restart Steam
5) Reinstall the game and run it
6) Steam should now automatically download and install the necessary redistributables
Option B: Direct download:
0) Follow steps 1 - 3 from above
4) Go to Microsoft Support
5) Download Redistributible for Visual Studio 2015, 2017 and 2019 for 32Bit Systems: vc_redist.x86.exe
6) Install the redistributable
7) Install the game and run it