Resolve no available SQL servers in SendSuite Live Project Administration

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Products affected: SendSuite® Live

Issue

In the SendSuite® Live Project Administration > Create XML Data Source > Data Source Wizard, the Available SQL Servers list is blank.
 
Event Viewer and Diagnostics in Shipment Administration displays the following errors: 

Exception:
System.IndexOutOfRangeException: Index was outside the bounds of the array.
   at Microsoft.SqlServer.Management.Smo.SqlPropertyMetadataProvider.PropertyNameToIDLookupWithException(String propertyName, PropertyAccessPurpose pap)
   at Microsoft.SqlServer.Management.Smo.SqlSmoObject.GetDbComparer(Boolean inServer)
   at Microsoft.SqlServer.Management.Smo.SqlSmoObject.InitializeStringComparer()
   at Microsoft.SqlServer.Management.Smo.AbstractCollectionBase.get_StringComparer()
   at Microsoft.SqlServer.Management.Smo.SimpleObjectCollectionBase.InitInnerCollection()
   at Microsoft.SqlServer.Management.Smo.SmoCollectionBase.InitializeChildCollection(Boolean refresh)
   at Microsoft.SqlServer.Management.Smo.SmoCollectionBase.GetEnumerator()
   at Pierbridge.ProjectsServer.Services.Config.GetInstanceDBs(Int32 nDataSourceType, String szDatabaseInstance, String szUID, String szPwd) 

Exception: 
System.IO.FileNoteFoundException: Could not load file or assembly 'Microsoft.SQLServer.Smo, Version=10.0.0.0, Culture=neutral, PublicKeyToken=89845dc8080cc91' or one of its dependencies. The system cannot find the file specified. 
File name:'Microsoft.SQLServer.Smo, Version=10.0.0.0, Culture=neutral, PublicKeyToken=89845dc8080cc91'
 at Pierbridge.ProjectsServer.Services.Config.GetMSSQLDataSources(StringCollection objDataSources)
 at Pierbridge.ProjectsServer.Services.Config.GetAvailableInstances(Int32 nDataSourceType)

WRN: Assembly binding logging is turned OFF. 
To enable assembly binding failure logging, set the registryvalue [HKLM\Software\Microsoft\Fusion!EnableLog] (DWORD) to 1. 
Note: There is some performance penalty associated with assembly bind failure logging. 
To turn this feature off, remove the registry value [HKLM\Software\Microsoft\Fusion!EnableLog]

Cause

The client and server are not running the same version of SQL Management Studio.

Resolution

To correct this issue, ensure that the versions of SQL Server and SQL Management Studio are the same.

If using SQL Server 2014, you will also need to install the cumulative update package 5 for SQL Server 2014 Service Pack 2.

UPDATED: June 03, 2021