This error occurs when the game files or dependencies to run it gets corrupted. There could be a couple solutions… Try to redownload, also it is possible that either (WinRar or WinZip) does not extract the data correctly, or maybe the location has permission restrictions. Another solution is to reinstall prerequisites which is located in game folder Engine/Extras/Redist/en-us/UE4PrereqSetup_x64 also it could be that the graphics card does not like the DirectX version of the game so updating DirectX could also solve the problem.