3368480 - Error while starting Cloud Connector service: "Windows could not start the SAP cloud connector service on local computer. Error 1053: The service did not respond to the start or control request in timely fashion"

When attempting to start/restart the SAP Cloud Connector service on a Windows system, it fails with the below error message:

The below is reported in the scc_service.log:

Cloud Connector Version:    X.XX.XX
Found JavaHome in SCC Registry:    <Installation_directory of JDK>
CheckJVM() found jvm.dll:    <Installation_directory of JDK>\jre\bin\server\jvm.dll
SccGetProductMajorVersion():    Major version of <Installation_directory of JDK>\jre\bin\server\jvm.dll: 11
SccGetProductMajorVersion():    SAP Java VM will be loaded by SCC.
Error from LoadLibrary():    The specified module could not be found.

CheckJVM():    Could not find or load a 64bit jvm.dll version 8 or higher. Please make sure that a supported 64bit JDK has been properly installed.

SAP Cloud Connector 

Error 1053, service, start, restart, stop, JVM, SAPJVM, Cloud Connector, Windows, jvm.dll, 64bit JDK, Error 1053: The service did not respond to the start or control request in timely fashion , KBA , BC-MID-SCC , SAP Cloud Connector On-Demand/On-Premise Connectivity , BC-JVM , SAP Java Virtual Machine , Problem