Struggled to find the soultion for the latest Oculus (1.38.00). All goes well until the first startup breaks with "Can't reach Oculus service" error, and prompts to repair the installation.
In your Oculus\OVRLibraryService.log you'll see IPC connection attempt failed!
Repairs, cleaning up space, DNS flush, service restarting, VPN using - all didn't work in my case. I've found the solution in this reddit thread.
All you need to do is to go to Oculus\Support\oculus-runtime and run OVRServer_x64.exe manually before running Oculus. It will open a command window, feel free to minimize it.
Yep... and the cause of that issue might be related to possible extended ascii codes in your windows username. Recent installer has been having issues with those.