Local binary build of 4.22.1 fails when only Visual Studio 2019 is installed

Attempting to create a local binary build of 4.22 using Visual Studio 2019 (with no other versions of Visual Studio installed) currently fails with several warnings and errors, including the following:

warning CS1692: Invalid number
error CS1525: Invalid expression term '['
error CS1003: Syntax error, ':' expected
error CS1002: ; expected

There are also numerous occurrences of the following message:

Project file contains ToolsVersion="12.0". This toolset may be unknown or missing, in which case you may be able to resolve this by installing the appropriate version of MSBuild, or the build may have been forced to a particular ToolsVersion for policy reasons. Treating the project as if it had ToolsVersion="4.0". For more information, please see [Link Removed].

SETUP
This requires a computer with only Visual Studio 2019 installed, and no previous versions installed.

REPRO

1. Obtain a fresh sync of the 4.22 source code from GitHub.
2. Run Setup.bat.
3. Run GenerateProjectFiles.bat -2019.
4. Create a local binary build of the Engine.
   • eg: RunUAT.bat BuildGraph -target="Make Installed Build Win64" -script=Engine/Build/InstalledEngineBuild.xml -set:WithWin64=true -set:WithWin32=false -set:WithMac=false -set:WithAndroid=false -set:WithIOS=false -set:WithTVOS=false -set:WithLinux=false -set:WithSwitch=false -set:WithLumin=false -set:WithHTML5=false -set:WithDDC=false

RESULT:
The build fails with several warnings and errors, including CS1692, CS1525, CS1003, and CS1002 (see attached text file). There are also numerous occurrences of a message that appears to be stating that the appropriate tools version of MSBuild is not available.

EXPECTED:
The build completes successfully.

WORKAROUND:
The build reportedly completes successfully if Visual Studio 2017 is also installed.