Media Encoder 2018 and AE 2018 Dynamic Link Error

Hi,

I have  After Effects 2018 (Version 15) and the latest Media Encoder 2018 (Version 12) installed.
When I add to Media encoder queue from AE 2018, it does not link. Same when I try to add a project inside the Media Encoder.
The error that is shown is "Could not connect to Adobe After Effects. Please verify that Adobe After Effects and Adobe Dynamic Link components are installed"