Can't build Unreal Engine project. UnrealBuildTool.csproj(1,1): Error MSB4041 : The default XML namespace of the project must be the MSBuild XML namespace.

Problem

Unreal Engine game project build fails. Build output contains

UnrealBuildTool.csproj(1,1): Error MSB4041 : The default XML namespace of the project must be the MSBuild XML namespace.

Cause

The MSBuild in Settings | Build, Execution, Deployment | Toolset and Build is probably set to the one which is bundled to Windows (C:\Windows\Microsoft.NET\Framework\v4.0.30319\MSBuild.exe).

Resolution

• Ensure you have .NET Desktop Development and C++ Desktop Development workloads installed in the Visual Studio installer.
• In Rider go to Settings | Build, Execution, Deployment | Toolset and Build in Rider and switch MSBuild to the one that comes with Visual Studio (C:\Program Files\Microsoft Visual Studio\{year}\{version}\MSBuild\Current\Bin\MSBuild.exe).
• Reopen UE project.