Audio & video under Windows is a bit of a gamble. Codecs in Windows often 'bid' for support of types of media file (or stream): there might perhaps be 2 or more codecs on your computer that can handle 'format x', and the codecs are permitted to express their 'keenness' to handle that format. Windows will attempt to assemble components in order to render these formats, & part of its decision is influenced by which codes ‘bid’ the highest. Sometimes the bid values that the programmer chose may mean that the correct choice doesn't get made.
You may have installed something (probably not explicitly, but as part of something else) that might be causing the error. Or you might not have. So the problem might or might not lie with Microsoft's codecs.
The specs for parts some types of media encoding are also open to interpretation, & this can cause issues too.
Generally to try to solve these issues, there are tools such as GSpot, Graphedit etc. but it’s often more trouble than it’s worth, particularly when the video format is itself merely a container for other media types (as is the case with .asx).
Best advice is usually to ensure that you’ve all Windows updates installed, & if that doesn’t fix it, give up.