Fix for the error that work for me is https://support.apple.com/en-us/HT204972. Not only iTunes was fixed that way, but also duet application start work after fix.

1. Navigate to C:\Windows\System32. 
2. Locate the msvcr100.dll file.
   Make sure that the file name is exactly msvcr100.dll. If you’re unable to locate msvcr100.dll, do not continue with these steps and do not move other files from this folder.
3. Drag msvcr100.dll to the desktop. When prompted, click Continue.
4. After you drag the file to the desktop, try performing a repair on both installed versions of Apple Application Support (64 and 32-bit) in the Add/Remove Programs list in the Control Panel. iTunes requires both versions of Apple Application Support. Learn how to navigate to the Add/Remove programs list in Windows 7,Windows 8, and Windows 10, then follow these steps:
   
   • Click Apple Application Support 32-bit to select it.
   • Right-click Apple Application Support 32-bit to open the shortcut menu.
   • Select ‘Repair’ and complete the Repair Wizard.
   • Perform the same steps for Apple Application Support 64-bit.
5. Try to launch iTunes.
6. If there's still an issue, download a new copy of the iTunes installer.
7. Completely remove and reinstall iTunes and related software components from your computer. Then, reinstall iTunes.
8. If you still see the messages, restart your computer and try to launch iTunes again. If iTunes launches correctly, place msvcr100.dll in the Recycle Bin and then empty the Recycle Bin.   
9. If there's still an issue, contact Apple Support for more help.