Initilization Error at startup?

@Simologist  Just checking, but are you still running Origin and Sims 4 as an admin?  Do you have an antivirus currently running, and if so, have you tried disabling it?  Even if you did before, it's worth trying again now, since both the game and some antivirus programs have updated since you first posted.

If none of that helps, try uninstalling and reinstalling .NET Framework 3.5.  Hit Windows key-R and enter "appwiz.cpl" without quotes, then in the File Explorer window that appears, click "Turn Windows features on or off."  You'll see this:

Click the box next to .NET 3.5, shown at the top in blue, and let it uninstall.  Then restart your computer and repeat the above, except that clicking the box will reinstall the framework.  Restart again before trying to play.

Still no luck

@amuni573  Have you ever played Sims 4 before, and if so, do you have an old user folder?  If so, please move the Sims 4 folder out of Documents\Electronic Arts and onto your desktop, then try to play again.  If you don't have that folder, don't worry about it.

MSVCP120.dll is part of the VC++ 2013 runtimes, which Sims 4 shouldn't be using anymore, unless you're trying to run the Legacy Edition.  Still, you can uninstall and reinstall your copies, both x86 and x64 if you have a 64-bit version of Windows, easily enough.  Hit Windows key-i, select Apps, scroll down to the Microsoft Visual C++ Redistributables, click on the 2013 x86 and x64 bit versions, and select Unintsall.  Don't touch any other versions.  You can download fresh copies from Microsoft here:

https://www.microsoft.com/en-us/download/details.aspx?id=40784

You do need both the x86 and x64 versions, but not the _arm version, which is for a different class of device.

Restart your computer before trying to play.