You can resolve this issue in the following way:
1. Create a Windows Domain\Local Machine user account with a strong password.
2. Using Windows Explorer, go to C:\WINDOWS\Microsoft.NET\Framework\v4.0.30319\Temporary ASP.NET Files.
3. Give the new user you created in step 1 Full Control permission to the folder path. Click Apply and OK.
4. You need to specify the user you created as the IISAppPool identity for either WS2012AppPool or WS2013AppPool (depending on which version you installed) using the following links:
IIS 7 and above: