I have been constantly been getting this issue. But I can update through a VPN. But this time I ran out of data on the free VPN I was using and I'm not spending money to play a F2P game because the game won't update. Please fix the issue. I have tried most of the suggestions above including the "c++ repair" but it just doesn't seem to work. And no I don't have an IP ban.
Update: Turning off bulk download and Direct X 10 and 11 from the launcher settings made it update...
usually these kinds of VPNs apps that have limited MBs to use are a "uninstall the reinstall" kind of apps, so just uninstall the VPN app and use the free amount of download again and again
FIX for most Update Failed! and Launcher Errors!
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usually these kinds of VPNs apps that have limited MBs to use are a "uninstall the reinstall" kind of apps, so just uninstall the VPN app and use the free amount of download again and again