Arnold render MAXtoA errors when starting 3ds Max

Issue:

When starting 3ds Max it will crash with one or more of these messages:
DLL <c:\programdata\autodesk\applicationplugins\maxtoa_202x\MaxtoA.dlr> failed to initialize.Error code 126 – The specified module could not be found. 

DLL <c:\programdata\autodesk\applicationplugins\maxtoa_202x\MaxtoA_Menu.gup> failed to initialize.Error code 126 – The specified module could not be found.

“./ArnoldInstanceShape.dlu” specified in “C:\ProgramData\Autodesk\ApplicationPlugins\MAXtoA_20XX\PackageContents.xml” doesn’t exist.
“./ArnoldFluidUtil.dlu” specified in “C:\ProgramData\Autodesk\ApplicationPlugins\MAXtoA_20XX\PackageContents.xml” doesn’t exist.
“./OperatorGraphPlugin.dla” specified in “C:\ProgramData\Autodesk\ApplicationPlugins\MAXtoA_20XX\PackageContents.xml” doesn’t exist.

Causes:

Corruption during Arnold installation.

Solution:

Uninstall and Reinstall the MaxtoA plugin:

1. In Windows, open the Control Panel > Programs and Features menu.

2. In the programs list, find the entry for the MAXtoA for 3ds Max plugin.

3. Right-click the MAXtoA entry > Uninstall.

4. Download the latest MaxtoA plugin for 3ds Max and install it again.

Note. Do not run any other programs or software during the install.

Source: https://blog.superrendersfarm.com/news/arnold-render-maxtoa-errors-when-starting-3ds-max-2/