Well, I did spend time investigating contrary to my previous comment. I posted solution in the Steam community but I will add it here to as well.
Game tries to install VC Redist packages which can fail when newer versions are already installed. Uninstall latest packages with commands: MsiExec.exe /passive /X{F0C3E5D1-1ADE-321E-8167-68EF0DE699A5} MsiExec.exe /passive /X{1D8E6291-B0D5-35EC-8441-6616F567A0F7} And then relaunch the game
Not ideal solution as you will be out of couple possibly required packages for other games. They can be installed afterwards again on top of SP: SOT, but I have really no interest digging out those ATM ...