Did you try uninstalling Visual C++ program from your windows programs and rerun the Modeler installation?
Hi Liam,
Looks like one of the prerequisites that Modeler require to run is already installed on your PC, but is someway corrupted. You can try to either uninstall the package and let the Modeler to get and install it on its own, or get this package yourself from Microsoft (https://www.microsoft.com/en-us/download/details.aspx?id=5555) and repair/reinstall it. Hope that helps!