How to resolve error updating office please wait a moment followed by the application was unable to start correctly (0xc0000142)

Issue #

After a recent Windows Update or Office Update you come across the following warning and subsequent error when you try to launch any Office application.

Solution #

First step is to restart the Microsoft Office Click to Run service.

If the above fails, try the following steps:

1. Run a Microsoft Office Online Repair from the control panel. Click on the Microsoft Office application record in the list of installed programs and click "Change", then choose "Online Repair".
2. Run sfc /scannow in an elevated command prompt.
3. Run DISM.exe /Online /Cleanup-image /Restorehealth in an elevated command prompt.
4. Run following commands in elevated command prompt for re-registering .dll and .ocx files.
   1. for %i in (%windir%\system32\*.dll) do regsvr32.exe /s %i
   2. for %i in (%windir%\system32\*.ocx) do regsvr32.exe /s %i