If your game crashes and claims MSVCR110.dll is missing, it’s telling you a particular Microsoft Visual Studio redistributable is missing that the game needs to run. There are two ways you can go about fixing this:
Go into the game’s folders and run the redistributable installation again. Manually install the redistributable from the Microsoft website.
The problem with the first option is that it’s not always going to work. But it’s easy enough to get the file from Microsoft themselves.
If you want to try to manually install the redistributable without the new download:
Go to the folder C:\Program Files (x86)\Steam\steamapps\common\MGS_TPP Find the folder _Common Redist, then navigate to \vcredist\2012 Run vcredist_x64. exe and hope for the best.
Notice this is the x64 of the Visual Studio 2012 redistributable and not the x86. You may very well need to install the x86 version. This is easily accessible on the Microsoft website, and can be downloaded here.
Installing the x86 redistributable helped my game to stop crashing, and hopefully it will help yours, too.