arm-none-eabi-gdb-py.exe - python27.dll missing

I've just downloaded the installer package for windows from [here|https://download.qt.io/development_releases/qtdesignstudio/1.4/1.4.0-beta1-community/qt-designstudio-windows-x86-1.4.0-beta1-community.exe.]

I installed on my Win7 SP1 64-bit (even if it seems that the installer is x86 only).

The installation completes without any error.

When I launch the application I see an error popup with title

arm-none-eabi-gdb-py.exe - System Error

The program can be started because python27.dll is missing

DS itslef is launched and so I don't know the real reason for the error.