Just bit the bullet and ran them.
All green now, red dots all gone!
No issue with Melodyne Editor, just get the standard windows re-install/Repair window - Still have all algorithms.
AD2 No problem all Kits & Beats are still there.
My experience was: if you don't like the Red Lights just run the install.
Only, one small hiccup, when completed Command Center showed 2 full installs of everything, closed and restarted, all back to normal, (might have been a "glip" on my PC.