I have received such an error while attempting to create a Visual Studio extension. The code was fine, the log said the build succeeded. devenv.exe missing means you are lacking Experimental Instance of Visual Studio. This can be fixed by downloading Extensibility Tools and Extensibility Manager from Tools > Extension and Updates.
This was NOT the case for me however. I found that the file was present on my computer as I could run Experimental Instance of Visual Studio manually by searching for it from Start menu, but the program could not see it.
It turned out that despite having Visual Studio Community the program was searching for a path to Experimental Instance of Enterprise (see it in the path in the error message?). The path could easily be fixed in Debug > [project name] Properties... > Debug under Start Action as Start external program path.