I try to set up project interpteter Python 3.5 in Pycharm and get an SDK error
I just ran into the same problem with Python 3.6 (which I wanted to use) and Python 3.7 also installed in my computer. My solution was just to remove reference to Python 3.7 from System PATH.
So my PATH is currently set:
C:\Program Files\Python36\Scripts\
C:\Program Files\Python36\
That's all, hope it helps.