If files within the program installation are missing or broken, a built-in repair is the first line of defense. Control Panel Add/Remove Programs (or Apps & Features). Select Ulead VideoStudio 11 and choose Clean Reinstall:
If these steps don't resolve the issue, it may be time to consider an upgrade. (the successor to Ulead) offers a very similar workflow but is fully optimized for modern hardware and 4K video formats.
If you are reinstalling VideoStudio 11 and keep seeing this error immediately after setup: