What version of Keyman Developer are you using? This should not happen in the latest version.
I’ve only recently updated to the latest version of Keyman Developer. The redist folder no longer exists in C:\Program Files (x86)\Keyman\Keyman Developer\. I’m encountering the same problem @makara described in January 2021.
Edit:
Don’t worry. I figured out that I could simply create the redist & setup folders myself then download the setup.exe file (available here) into it. Then it worked.
Ideally, if you’ve just updated the Keyman Developer to the current latest version, you may want to use the file from the same version, 
like: Index of /windows/stable/16.0.138.
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