This error might come after a particular SQL Server Windows Update (KB3197875 and KB3196684, listed as KB3195387 in installed updates).
A common suggestion is to install .NET 4.6.2, but for me this didn’t work as the installer simply told me that this version of the framework was alrady installed.
The solution for me was to open SQL Server Configuration Manager:
Then navigate to the SQL Server Network Configuration and disable “Shared Memory”, but make sure you leave one of the others on so SQL Server can communicate somehow:
Then just head over to your SQL Server instance and restart it:
Now re-run your app, things should be cushty.