SQL Server Management Studio 17 cannot find one or more components

I had similar problem and in my case it was due to a corrupt Microsoft Visual Studio 2015 Shell (Isolated) which SSMS 17 requires to run outside the VS IDE.

To fix this, I had to do the following:

1. Uninstall Microsoft Visual C++ 2017 Redistributable (both the x64 and x86). This is to ensure that step (2) will succeed as the repair process of the prerequisites might fail in some cases if newer versions have been installed.
2. Repair Microsoft Visual Studio 2015 Shell (Isolated) (or reinstall using https://download.microsoft.com/download/C/9/C/C9CA8400-20AA-4488-92A3-F3F6D978AD81/vs_isoshell.exe).
3. Reinstall Microsoft Visual C++ 2017 Redistributable (https://go.microsoft.com/fwlink/?LinkId=746572 and https://go.microsoft.com/fwlink/?LinkId=746571) if removed earlier.