I realize this is a year old, but I wanted to post what the error actually means. In windows update, under "Advanced options", you have an extra checkbox to "Give me updates for other Microsoft products when I update Windows.". If you turn that on, Oculus will download what it needs for Minecraft and let you play.
Since no one had answered this yet, and the issue is still there (I ran into it today), I just thought I'd put this out there.
I have it checked, always have, still no play