I have the same issue with a customer of ours:
Try to uninstall AIR – same message. (When I reinstall, the install says it’s successful.) I try to run our app, same message. I downloaded another AIR app, same message – so it’s not our app it’s AIR. We logged in as Administrator, same message. It’s a Windows7 machine. I did a system restore to 2 days ago and started over and still the same issues. I tried running the Windows Fixit to uninstall https://support.microsoft.com/en-us/mats/program_install_and_uninstall– didn’t work.