UnrealEngine GenerateProjectFiles.bat error - could be due to missing RPCUtility.exe

Tried to run GenerateProjectFiles.bat to build Unreal Engine from source (link),  but got error like below:

C:\>Users\x\UnrealEngine>GenerateProjectFiles.bat
Setting up Unreal Engine 4 project files...
GenerateProjectFiles ERROR: It looks like you're missing some files that are required in order to generate projects.  Please check that you've downloaded and unpacked the engine source code, binaries, content and third-party dependencies before running this script.

To fix, run setup.bat like:

C:\Users\x\prj\UnrealEngine>setup.bat

Note that you have to say no to the prompt Would you like to overwrite your changes (y/n)?.