For creating certificate run this command:
makecert -r -pe -n \"CN=effectLabs Server\" -b 01/01/2011 -e 01/01/2020 -sky exchange C:\\myCerts\\ELServer.cer -sv C:
On windows 10, I came across with the same issue. In spite of running my Developer Command Prompt for VS2017 as administrator, I got the same error. But when I installed Windows SDK then makecert command successfully got run.