Fom the looks of the error I'd imagine it would be a NET Framework and Visual C++ issue.
Try downloading these two links, install them and restart your computer. Then verify cache all that stuff try to launch arma:
https://www.microsoft.com/en-au/download/details.aspx?id=48145
https://www.microsoft.com/en-au/download/details.aspx?id=30653
Download 64-bit version if you are using a 64-bit machine