ASP.NET Core Web API (2.1.4) project results in HTTP 502.5 Error with error code 0x80070005

I have tried to run my project on a server provided by someone else for some time now and after going through a lot of troubleshooting documents I'm at a spot where I don't know what to try next. For debugging purposes I have created a plain, empty project (with just the default "values controller") and deployed that and it too produces the error.

The following information is available to me:

1. HTTP Server Error: 502.5
2. Logfile is produced but is empty
3. System Log shows the follówing:

Application 'MACHINE/WEBROOT/APPHOST/WEBSITE-NAME/API' with physical root '' created process with commandline 'E:\HostingSpaces\customer-folder\website-name\wwwroot\api\tu-test-api.exe 'but failed to get its status, ErrorCode = '0x80070005'.

I have tried different deployment types and all produce the same error. e.g. framework dependent, which produces a DLL. Then the error just stated that 'dotnet tu-test-api.dll' produces the error. But the codes and behavior is the same.

The server is a Windows 2008 R2 Server with IIS Express.

It has Microsoft .NET Core 2.1.4 WIndows Server Hosting installed.

The following three things are installed:

1. Microsoft .NET Core Runtime 2.1.4 (x64)
2. Microsoft .NET Core 2.1.4 - Windows Server Hosting
3. Microsoft .NET Core Runtime 2.1.4 (x86)

According to the Admin 1. PATH variable is set correct 2. Microsoft Visual C++ 2015 Redistributable (x64) is installed 3. After (2.) Bundle was repaired/reinstalled and server was rebooted

I'm a bit irritated because physical root is an empty string in the system logs. But I'm not sure what that means.

Any help on what to try next would be greatly appreciated.