How to fix itgenuty706 error: Invantive Control needs to install additional Excel functions

Questions
1

During startup of Excel with Invantive Control I receive an error:

itgenuty706: Invantive Control needs to install additional Excel functions. These can only be installed when there is exactly one active Excel process.

as displayed below:

image

How can I fix it?

2

This seems a historical bug. Please use a recent version of Invantive Control for Excel. The current version of 20.0 (20.0.115 or higher) should solve it.