Powershell: Cannot connect to backup server because some of its components are out of date

Challenge

Powershell scripts stopped working with error:

Connect-VBRServer: Cannot connect to backup server because some of its components are out of date.

Cause

Most likely hot-fix files were provided by support representative and introduced on the Veeam server.
 

Solution

After hot-fix was implemented Launch Veeam Backup and Replication console once.