This absolutely helps. I really appreciate you taking the time to write up your fix. @jkatman and @lars730, thank you also for adding your input. You all did an incredible job getting to the root of the .NET issue.
Another user, @Paulanator also found rollback was a good fix. I am going to do a roundup of these posts to put at the top of the discussion board to give other members a headsup about recent Windows Updates. According to @mtca, Microsoft is aware of the issue. Hopefully they will start reaching out to more users.
Thanks again everyone for sharing your solutions.