"Your Windows system needs updates to run this software" error with iLok License Manager on Windows 7

Error on installing due to missing Windows update.

Beginning with Version 3.1.3 of License Support, which includes the iLok License Manager application and the drivers and services required to authorize iLok-protected software, Windows 7 must have specific updates already installed prior to running the License Support installer. If the correct update is not installed, the following error message is seen:

Please use the following steps to check for the specific Windows 7 update that is required:

Click on the Start button and go to Control Panel
Go to Programs and Features to the Uninstall section (Note: you will not be uninstalling anything)
In the left column, click on the option that says View Installed Updates
Look through the Microsoft Windows updates for either update KB3125574 or update KB3033929

If you do not have KB3125574 or KB3033929 then you will need to download the KB3125574 update from Microsoft's website and install it.

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