https://bugs.winehq.org/show_bug.cgi?id=50459
--- Comment #8 from Moses Kim moseskim84@gmail.com --- I had that same error randomly, even when winecfg was set to Windows 10. I assume you've already done that because it also won't let you install unless you are set to Windows 10. The only way I got it to fix was to install SO5 into its own prefix and use winetricks to install the libraries. Another thing - SO5 needs 64 bit wine, but several of the libraries won't install via winetricks to a 64 bit prefix via the gui. Don't use the winetricks gui, use the winetricks command line to specify your prefix, and then use --force to get them to install. Some still only install 32 bit versions but it still works.
Example:
WINEPREFIX=/path/to/SO5prefix winetricks gdiplus --force
I would do them individually, you could install multiple libraries via command line, but some of them error out and you have to enter it again.
Good luck!