(Solved) No installed debugger has Just-In-Time debugging enabled

After installing Office 2016 in a server with SharePoint 2016, you may come across to “No installed debugger has Just-In-Time debugging enabled” error while visiting http://localhost in your browser.

The entire error message is below:

An unhandled win32 exception occurred in w3wp.exe [1472]. Just-In-Time debugging this exception failed with the following error: No installed debugger has Just-In-Time debugging enabled.

Background

After analyzing DebugDiag dump, we found that an ISAPI Extension (OWSSVR) which is a library for SharePoint Team Services caused the issue. This library got affected by Office installation.