I did install the Build Tools, but Python did not get installed because it required PowerShell Admin Rights.
So, I did the Build Tools Again in Powershell with Admin rights. Worked fine and Python 2.7 also got installed! Great!
Next I put Python.exe in the Environment path...
Finally, I ran npm i node-red-node-serialport from the .node-red folder. It seemed to install fine.
I brought up my node red IDE page and the Serial Port Nodes were displayed!! Great!
I wired up the serial nodes and my application is now running fine!
This was a bit tiresome and I did not have python installed with the previous version of the Serial Port nodes.
I think there may have to be some dependency install of python before upgrading the serial port nodes.
Much thanks for the help. I thought I was going to have to rebuild my entire application with a clean, fresh node red install.
