I’ve never used Creative Cloud, but it looks like the issue is actually a missing file from Microsoft Visual C++ Studio Code, which is required by lots of different programs in Windows. Make sure Windows Update is up to date, and if that doesn’t fix the problem, you might want to try installing the latest version of MSVC from here: https://support.microsoft.com/en-us/help/2977003/the-latest-supported-visual-c-downloads. Try the x64 version first, and if that doesn’t work, then try the x86 version as well.
The bigger question, though, is why all of a sudden is this error occurring? It might not hurt to run a virus scan and make sure that there aren’t bigger issues going on behind the scenes. Perhaps it’s a botched Windows Update, or some other rogue software deleted stuff that it shouldn’t have. @lenspirationlydia can sympathize with your troubles I think. 🙂
And yes, it’s definitely a good idea to make sure your LR catalog is backed up!
Don’t hesitate to ask more questions, or report progress or failures; I’ll be happy to look into it further if you’re still having trouble after trying the steps above.