I've recently had the same issues with some of my servers in my environment and all I had to do is to restart the Mchsield service from the "Standard Services Tab" as I believe by default when you open your services it automatically takes you to the "Extended services Tab".
Worked for me so I would suggest you try it and see if sorts out your issues.
Could you tell us about the version of the operating system and 32 or 64 bit OS.
1)uninstall the VSE and McAfee agent manually
2)first install the McAfee agent using the following command
3) Finally the VSE.
Pls refer the KB article which seems like your problem.
Hello Sir and/or Madam,
I have the same issue found on "Event Viewer" section "Application".
It is solved after UNINSTALL both McAfee VSE and McAfee Agent, then REINSTALL both McAfee Agent and McAfee VSE.
Hope my share help you.