Trevor,
I'm seeing the exact same symptoms as you are on 3 different machines in our household (two surface pro 2017, one desktop), and I'm resolving it in the same annoying way. It would be good if we could figure out what we have in common with our configuration, and what triggers this thing.
* I'm suspecting that this corruption happens only upon a Windows Update of OneDrive and/or a major OS update.
* FWIW, I am an Office365 subscriber. I seem to recall that there is a different executable image for Office365, but don't know if that's relevant or accurate though.
* I use MalwareBytes Premium. Since the OneDriveSetup.exe version folders are present and can be run manually to "fix" things, I wonder if MalwareBytes is somehow blocking the final install phase after an update?
* I run Win10 only as a standard user, not as an administrator. You'd think Microsoft wouldn't have issues with this, but I've seen so many apps that have installer bugs related to running as a standard user.
Maybe it's time to start nagging Microsoft with support calls...
I also have Malwarebytes Premium on all PCs in this house. I don't think it is the cause as there is nothing in the event log for OneDrive.