Sony Vegas is crashing the moment I press render regardless the format chosen on a freshly installed Windows 8.1.
Error:

Problem signature:
Problem Event Name: APPCRASH
Application Name: vegas130.exe
Application Version: 13.0.0.428
Application Timestamp: 5463a76e
Fault Module Name: clr.dll
Fault Module Version: 4.5.27.0
Fault Module Timestamp: 545ca861
Exception Code: c0000005
Exception Offset: 000000000006c854
OS Version: 6.3.9600.2.0.0.256.48
Locale ID: 1033
Additional Information 1: 1cf0
Additional Information 2: 1cf0e7963731731fc6a78a515dc4d96a
Additional Information 3: ea9d
Additional Information 4: ea9de657ddafbdc1a4be657754c9b9f2
I ran sfc /scannow and Windows Updates but no errors were found.
Luckyly I found a solution in this thread (Vegas closes upon any attempt to render): Clr.dll in Net Framework 4.5 causes Vegas to crash, this hotfix claims to fix it. However this hotfix is only applicable to Net Framework 4.0, and Windows 8.1 comes bundled with 4.5.
Net Framework repair tool won't provide a repair option:



And attempting to repair Net Framework using this command fails to work:
DISM /Online /Cleanup-Image /RestoreHealth

What else can I do to fix this?