Set up associations crashes VLC

I have VLC Media Player version 2.2.0. If I click Tools -> Preferences, and then click on the "Set up associations" button, I get an error box from Microsoft Visual C++ Runtime. It says "This application has requested the Runtime to terminate it in an unusual way. Please contact the application's support team for more information." I have tried "Reset Preferences" and that did not help. Rerunning the installer did not help either.

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