While compiling Binaryen I got a similar issue but with better log:
> emsdk install binaryen-master-64bit
Installing tool 'binaryen-master-64bit'..
Repository 'https://github.com/WebAssembly/binaryen.git' already cloned to directory 'C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master', skipping.
Fetching latest changes to the branch 'main' for 'C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master'...
Already up to date.
Successfully updated and checked out branch 'main' on repository 'C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master'
Current repository version: "Sat, 23 Jan 2021 04:27:20 +0900 27a5a7101d20ce5fc51648e775587ab3d640114e"
Running CMake: ['cmake', '-G', 'Visual Studio 16', '-DCMAKE_BUILD_TYPE=Release', '-DPYTHON_EXECUTABLE=C:\\Users\\Kagami\\Documents\\GitHub\\emsdk\\python\\3.7.4-pywin32_64bit\\python.exe', '-A', 'x64', 'C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master']
-- Selecting Windows SDK version 10.0.19041.0 to target Windows 10.0.19042.
CMake Error at CMakeLists.txt:2 (project):
Failed to run MSBuild command:
C:/Program Files (x86)/Microsoft Visual Studio/2019/Community/MSBuild/Current/Bin/MSBuild.exe
to get the value of VCTargetsPath:
Microsoft (R) Build Engine version 16.8.3+39993bd9d for .NET Framework
Copyright (C) Microsoft Corporation. All rights reserved.
Build started 24/01/2021 1:05:00 PM.
Project "C:\Users\Kagami\Documents\GitHub\emsdk\binaryen\master_vs2019_64bit_binaryen\CMakeFiles\3.17.1\VCTargetsPath.vcxproj" on node 1 (default targets).
C:\Users\Kagami\Documents\GitHub\emsdk\binaryen\master_vs2019_64bit_binaryen\CMakeFiles\3.17.1\VCTargetsPath.vcxproj(15,2): error MSB4019: The imported project "C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\Common7\IDE\VC\VCTargets\Microsoft.Cpp.Default.props" was not found. Confirm that the expression in the Import declaration "C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\Common7\IDE\VC\VCTargets\Microsoft.Cpp.Default.props" is correct, and that the file exists on disk.
Done Building Project "C:\Users\Kagami\Documents\GitHub\emsdk\binaryen\master_vs2019_64bit_binaryen\CMakeFiles\3.17.1\VCTargetsPath.vcxproj" (default targets) -- FAILED.
Build FAILED.
"C:\Users\Kagami\Documents\GitHub\emsdk\binaryen\master_vs2019_64bit_binaryen\CMakeFiles\3.17.1\VCTargetsPath.vcxproj" (default target) (1) ->
C:\Users\Kagami\Documents\GitHub\emsdk\binaryen\master_vs2019_64bit_binaryen\CMakeFiles\3.17.1\VCTargetsPath.vcxproj(15,2): error MSB4019: The imported project "C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\Common7\IDE\VC\VCTargets\Microsoft.Cpp.Default.props" was not found. Confirm that the expression in the Import declaration "C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\Common7\IDE\VC\VCTargets\Microsoft.Cpp.Default.props" is correct, and that the file exists on disk.
0 Warning(s)
1 Error(s)
Time Elapsed 00:00:00.18
Exit code: 1
-- Configuring incomplete, errors occurred!
See also "C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master_vs2019_64bit_binaryen/CMakeFiles/CMakeOutput.log".
CMake invocation failed due to exception!
Working directory: C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master_vs2019_64bit_binaryen
Command '['cmake', '-G', 'Visual Studio 16', '-DCMAKE_BUILD_TYPE=Release', '-DPYTHON_EXECUTABLE=C:\\Users\\Kagami\\Documents\\GitHub\\emsdk\\python\\3.7.4-pywin32_64bit\\python.exe', '-A', 'x64', 'C:/Users/Kagami/Documents/GitHub/emsdk/binaryen/master']' returned non-zero exit status 1.
Installation failed!
Microsoft Visual Studio\2019\Community\Common7\IDE\VC\VCTargets doesn’t exist anymore in the latest VS2019.