Hope this will help everyone who is having trouble with Studio One 3. I was experiencing the same issue as everybody and I found a way to fix the, "api-ms-win-crt-runtime-l1-1-0.dll" missing error. When you go to download Studio One 3
Step #1 Go to the downloads page in your account. Scroll down to "view previous versions" and select it.
Step #2 Choose verion 3.2.2 and hit ok.
Step #3 Select the vervion you wish to download, Windows x86, windows x64, and Mac OSX X.X.X
Make sure you know which version of Windows you have installed.
Step #4 On your computer, go to your downloads folder.
Step #5 Right click on "PreSonus+Studio+One+3 Installer (x64).exe" and run as Administrator. Follow the prompts for installation and wait for it to finish.
Step #6 Run the software and sign-in to your account to connect your license to your account and you're good to go.
Hope this helps anyone with this issue past, present, and future.