Enterprise Vault Outlook Add-in on Windows 11 generates error 'There was a problem starting [EVMSP32.dll]. The operating system cannot run %1'

Problem

Installing the Enterprise Vault Outlook Add-in on Windows 11 24H2 x64 generates an error for 32-bit Outlook editions.  The installation will finish, but Virtual Vault functionality doesn't work.  The 64-bit Outlook editions are not affected.

Error Message

Error during installation:

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RunDLL
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There was a problem starting C:\Program Files (x86)\Enterprise Vault\EVClient\EVMSP32.dll

The operating system cannot run %1.

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OK   
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When attempting to enable Virtual Vault after installation, users may see the following error in the Outlook UI:

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Enterprise Vault
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Enterprise Vault could not add or remove the following Virtual Vaults:

[UserName]

Try again later.
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OK   
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Cause

Windows 11 Version 24H2 is currently pending certification for use with Enterprise Vault clients.  There is an apparent incompatibility between this version of Windows and the Outlook Add-in.

Solution

This issue has been resolved in Enterprise Vault 15.1.2, available from Downloads.