Arguments property is a list of arguments, separated by space.
If you want to pass an argument (or more than one) containing spaces, you have to surround them with double quotation marks.
proc.StartInfo.Arguments = "D:\Pre Requisite Utility";
have to be changed to
proc.StartInfo.Arguments = "\"D:\\Pre Requisite Utility\"";
When you have multiple arguments, you have to surround them one by one, like:
proc.StartInfo.Arguments = "\"First argument\" \"Second argument\" \"Third argument\"";
Note that this is the same behavior from old DOS.