you can find two seperate versions 2008/2010 in your vcredistrib folder in the daemon folder.
C:\Program Files (x86)\Steam\steamapps\common\Life is Feudal Your Own\_CommonRedist\vcredist
my recommendation is to use all 4 versions that you will find. after that, restart your pc. and you should have no more problems. you dont need to go to microsoft.com, but you can if you like