Brief Description
This is due to 'Intel ME' functions needed to update drivers in windows-7(32/64bit) has to be manual installations.
Solution
Ensure update the setup/application files from 'ME driver folder' after updating .NET 4/4.5 in windows.
Select the serial port/communication driver option manually to select under 'manual selection' and then proceed to installations.
Remark
You may get latest ME-driver from supplier websites or contact's IEI's FAE about to find it.