It turns out that I had installed the .NET Framework v4.6.2, not the Developer Pack for 4.6.2. Doh!
https://www.microsoft.com/en-us/download/details.aspx?id=53321
Windows -> Search -> Visual Studio Installer -> Modify -> Individual Components and check the right version
Starting May, 2019 you can build your project on net20 up to net48 (including ne461) any machine with at least MSBuild or the .NET Core SDK installed without the need of Developer Pack installed.
If .NET Core SDK installed in you machine, Add the nuget package Microsoft.NETFramework.ReferenceAssemblies to your project
<ItemGroup>
<PackageReference Include="Microsoft.NETFramework.ReferenceAssemblies" Version="1.0.2">
<IncludeAssets>runtime; build; native; contentfiles; analyzers</IncludeAssets>
<PrivateAssets>all</PrivateAssets>
</PackageReference>
</ItemGroup>
The package include all ReferenceAssemblies starting net20 up to net48
These packages enable building .NET Framework projects on any machine with at least MSBuild or the .NET Core SDK installed plus other scenarios.
For more details: https://github.com/Microsoft/dotnet/tree/master/releases/reference-assemblies
Installing the 4.6.2 Developer Pack did not work for me.
I had to install .NET Framework 4.6 Targeting Pack
I was getting the exact same error when building except it was for ".NETFramework,Version=v4.7.1".
I downloaded the Developer pack for 4.7.1 from here: https://www.microsoft.com/en-us/download/confirmation.aspx?id=56119
The pack installed these programs on the target machine (my build server).
When I tried building again, I didn't get the error anymore and the build succeeded.
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